The Larger the Diameter of a Natural Gas Pipeline, the Lower

question 38

Multiple Choice

The larger the diameter of a natural gas pipeline, the lower is the average total cost of transmitting 1,000 cubic feet of gas 1,000 miles. This is an example of one reason for

• A)economies of scale.
• B)diminishing returns to scale.
• C)diminishing marginal returns.
• D)increasing marginal cost.

Understand the classification and impact of consumer values, attitudes, and lifestyles on their buying behavior.

Explain the relevance of the family life cycle and socialization in marketing.

Understand the concept of a subculture.

Identify American racial/ethnic subcultures frequently targeted by marketers.