Which of the Following Can Help Create Product Prestige

question 3

Multiple Choice

Which of the following can help create product prestige?

• A)High quality
• B)Additional rebates
• C)Fixed costs
• D)Limited availability

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Definitions:

Resource Maximization

It is the technique or strategy of optimally utilizing resources to achieve the highest possible output or efficiency.

Least-costly Combination

A perfect combination of resources that lowers the production cost while reaching a target output level.

Profits

Financial gains realized when the revenues from business activities exceed the expenses, costs, and taxes needed to sustain the operation.

Profit-maximizing Combination

An optimal mix of inputs or factors of production that results in the highest possible profit for a firm, given the costs and available resources.