__________ Are Customers Who Modify Existing Products According to Their

question 15

Multiple Choice

__________ are customers who modify existing products according to their own ideas to suit their specific needs.

• A) Early adopters
• B) Market testers
• C) Lead users
• D) Reverse engineers
• E) Concept testers

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Definitions:

Resources

Assets or inputs used to produce goods and services.

Economic Profit

The difference between a firm's total revenues and its total costs, including both explicit and implicit costs, indicating the financial gain in excess of opportunity costs.

Accounting Profit

The total revenue of a firm less its explicit costs; the profit (or net income) that appears on accounting statements and that is reported to the government for tax purposes.

Diseconomies of Scale

A situation in which a company or business grows so large that the costs per unit increase, leading to decreased efficiency.