The Extra Cost That Results from an Extra Unit of an Activity

question 97

Multiple Choice

The extra cost that results from an extra unit of an activity is the:

• A) marginal benefit.
• B) marginal cost.
• C) reservation cost.
• D) same as the opportunity cost.

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Definitions:

Market Orientation

A business approach that prioritizes identifying and meeting the needs and desires of customers through product innovation, quality, and satisfaction.

Long-Term Relationships

Engagements or associations between parties, whether personal or professional, that are built over an extended period and emphasize loyalty, commitment, and mutual benefit.