Which of the Following Statements Points Out the Similarity Between

question 46

Multiple Choice

Which of the following statements points out the similarity between a product life cycle and a service life cycle accurately?

• A) The ease of making on-the-run changes for products and services is the same.
• B) Both products and services feature have an equal possibility of extending the life cycle.
• C) Both products and services will take a little time to attract customers.
• D) The ease of eliminating the decline stage of both products and services is similar.

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Definitions:

Returns To Scale

Refers to how the output of a production process changes as all input quantities are scaled up or down.

Marginal Products

The additional output that is produced by employing one more unit of a specific input, while keeping other inputs constant.

Exponents

mathematical operations denoting how many times a number, the base, is multiplied by itself.

Marginal Products

The increase in output resulting from a one-unit increase in the quantity of a single input, keeping others constant.