When Marketers State That Services Are __________, They Are Referring

question 116

Multiple Choice

When marketers state that services are __________, they are referring to the fact that services are produced and consumed at the same time.

• A) intangible
• B) inseparable
• C) variable
• D) perishable
• E) peripheral

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Definitions:

Dominant

In a strategic or competitive context, dominant refers to a position of advantage where an entity (such as a firm, product, or strategy) significantly outperforms or influences others.

Marginal Revenue

Marginal revenue is the additional income generated from selling one more unit of a good or service.

Marginal Cost

The cost of producing one additional unit of a good or service, reflecting how total cost changes with output variation.

Monopoly

is a market structure characterized by a single seller dominating the entire market by selling a unique product or service.