Which of the Following Statements About Mass Customization Is True

question 27

Multiple Choice

Which of the following statements about mass customization is True?

• A) There has been a widespread shift to mass customization by thousands of companies.
• B) The biggest successes in mass customization have all been in consumer markets as opposed to business markets.
• C) If a company is to succeed with a mass customization strategy, it must be able to find a low-cost way to produce the products.
• D) All of the above.
• E) None of the above.

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Definitions:

Monopsony Power

Buyer’s ability to affect the price of a good.

Marginal Expenditure

The additional cost incurred from purchasing one more unit of a good or service.

Average Expenditure

Average expenditure is the amount of money spent per unit of goods or services purchased, calculated by dividing total expenditure by the total number of units bought.

Competitive Quantity

is the quantity of goods produced or services offered based on the equilibrium in a competitive market.