When the Output of Some Units Can Be Used as Inputs

question 4

True/False

When the output of some units can be used as inputs to other units, synergies develop, which can lower cost and generate profits.

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Definitions:

Demand

The desire for a particular product or service combined with the ability and willingness to pay for it.

Complementary Goods

Complementary Goods are products or services that are often used together, where the demand for one increases the demand for the other, like smartphones and data plans.

Demand Curve

A graphical representation showing the relationship between the price of a good and the quantity demanded at those prices.

Price

The charge established, required, or paid in exchange for an object.