Which of the Following Is Necessary for a Product to Be

question 16

Multiple Choice

Which of the following is necessary for a product to be considered reliable?

• A)It needs to do a better job as far as performance on existing features is concerned.
• B)It needs to do more jobs than products offered by other firms in the market.
• C)It needs to last longer than products offered by other firms in the market.
• D)It needs to offer unique functions and features that no other firm offers.

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Definitions:

Team Members

Individuals who are part of a group collaborating towards a common goal, each contributing with their skills and efforts.

Intensively Work

The act of working with extreme focus and effort over a short period to achieve high levels of productivity.

Monopoly Price

The price set by a monopolist, who has exclusive control over the supply of a good or service and can manipulate prices to maximize profits.

Monopoly Quantity

The quantity of goods or services produced and sold by a monopoly, characterized by the lack of competition and the ability to set prices.