On Average,new Products Account for Two-Thirds to Three-Fourths of Companies

question 16

True/False

On average,new products account for two-thirds to three-fourths of companies' sales.

---

Definitions:

Marginal Revenue

This refers to the additional income generated from the sale of one more unit of a good or service.

Average Cost

the total cost of production divided by the number of units produced, used to evaluate the efficiency of production processes.

Producing Units

Departments or entities within an organization responsible for the creation of goods or provision of services.

Marginal Revenue (MR)

The increase in revenue that results from the sale of one additional unit of a product or service.