A Company's Product Design Supports Its Business Strategies by

question 11

Multiple Choice

A company's product design supports its business strategies by

• A) designing products that appeal to its customers
• B) designing as many products as possible
• C) including the company's mission somewhere in the product
• D) designing products that aid strategic planning activities
• E) designing the company's strategy

---

Definitions:

Marginal Revenue

The additional revenue a firm gains from selling one more unit of a good or service.

Monopolist

A market participant that is the sole seller of a product or service, having significant control over its price.

Demand Curve

illustrates the relationship between the price of a good and the quantity of that good consumers are willing and able to purchase at various prices.

Marginal Cost

The expense incurred in creating an extra single unit of a product or service.