The Service Operations System Does Not Include ____________

question 22

Multiple Choice

The service operations system does not include ____________.

• A)physical facilities
• B)equipment
• C)other customers
• D)technical core
• E)personnel

---

Definitions:

Monopolistically Competitive

A market structure in which many companies sell products that are similar but not identical, allowing for some degree of market power.

Short-Run Profits

Profits earned by a firm in the short term, often before all types of costs have been fully adjusted or realized.

Long-Run Profits

Long-run profits refer to the earnings a firm can expect over a period during which all inputs can be adjusted, reflecting the company's true economic performance.

Oligopoly

A market structure in which a few firms dominate the industry, leading to limited competition and potentially high prices for consumers.