Because Services Depend on the People Who Provide Them, the Quality

question 109

Multiple Choice

Because services depend on the people who provide them, the quality of a service is often

• A)independent of managerial policies.
• B)inconsistent.
• C)inventoried.
• D)tied to a product.
• E)independent of the quality delivered.

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Definitions:

Long Run

A period in economics where all factors of production and costs are variable, allowing for full adjustment to any change.

Monopolistically Competitive

A market structure where many firms sell products that are similar but not identical, allowing for some degree of market power and pricing over their product.

Optimal Level

The most efficient, effective, or desirable point or degree of an activity or function, balancing costs and benefits.

Profit-Maximizing

A process or strategy aimed at achieving the highest possible profit within a given business context.