The Fact That Procter & Gamble Has Broadened Its Product

question 42

True/False

The fact that Procter & Gamble has broadened its product offerings to include household cleaning products, laundry products, snack products, and hair care products is an example of diversification.

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Definitions:

Marginal Product

The additional output resulting from the use of one more unit of a production input, holding other inputs constant.

Wage

A wage is the compensation paid to employees for their labor, typically calculated on an hourly, daily, or piecework basis.

Output

The quantity of goods or services produced in a given period by an individual, firm, or country.

Marginal Revenue Product

The additional revenue generated from employing one more unit of a factor of production, holding all other factors constant.