Which of the Following Is LEAST Likely to Be a Low-Cost

question 29

Multiple Choice

Which of the following is LEAST likely to be a low-cost leadership competitive advantage?

• A) low overhead
• B) effective capacity use
• C) inventory management
• D) broad product line
• E) mass production

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Definitions:

Total Utility

The complete satisfaction or benefit a consumer receives from consuming a certain amount of goods or services.

Diminishing Marginal Utility

A common economic concept stating that as a person consumes more of a product, the satisfaction (utility) gained from each additional unit decreases.

Total Utility

It is the total satisfaction or benefit that a consumer derives from consuming a certain quantity of goods or services.

Additional Units

Refers to extra quantities or increments of a product or service that are made available or consumed.