Utility Refers to

question 203

Multiple Choice

Utility refers to

• A)the number of alternative uses or benefits that can be provided by a single product or service.
• B)the adaptability of a marketing program to adjust to changes in the marketing environment.
• C)the benefits or customer value received by users of the product.
• D)the fixed costs associated with the production of a single unit of a product within a product line.
• E)the variable costs associated with the production of a single unit of a product within a product line.

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Definitions:

Variability

A measure of the dispersion or spread of a set of data points within a dataset, indicating how much the data points differ from the average value.

Uncontrollable Costs

Expenses that cannot be changed or influenced in the short term by the actions of managers within the organization.

Variable Costs

Costs that vary directly with the level of production or output, such as materials and labor, contrasted with fixed costs.

Indirect Costs

Expenses not directly tied to the production of goods or services, such as rent, utilities, and administrative salaries.