Which of the Following Is an Example of Time Utility

question 205

Multiple Choice

Which of the following is an example of time utility?

• A)an iPhone with a "multitouch" user interface for easy navigation
• B)Goodwill's 24-hour drop-off box for clothing donations
• C)a dry cleaner located inside a supermarket
• D)a mobile phone company that offers six-month financing,same as cash
• E)a new herbal supplement that offers a 30-day free trial

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Definitions:

Market Price

The price at which a good or service is offered in the marketplace.

Short-Run Supply Curve

A graphical representation showing the relationship between the price of a good and the quantity supplied over a short period, when some production variables are fixed.

Marginal Cost Curve

A visual chart that illustrates the change in the expense associated with producing an extra unit of a product as the total output grows.

Average Variable Cost

The total variable costs divided by the quantity of output produced, reflecting the average cost of producing each unit excluding fixed costs.