The Contribution of One More Unit of Labor to Total

question 71

Multiple Choice

The contribution of one more unit of labor to total revenues is called

• A)marginal revenue.
• B)marginal product.
• C)total product.
• D)marginal revenue product.
• E)total revenue product.

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Definitions:

Tangibles

Tangibles are physical items or assets that can be seen, touched, and quantified, often used to assess service quality in businesses.

Marketing of Services

Strategies and tactics used to promote and sell intangible services, as opposed to tangible goods.

Delivery Gap

A type of service gap; the difference between the firm’s service standards and the actual service it provides to customers.

Service Standards

The levels of performance and quality that service providers commit to delivering to their customers.