Asked by
Maryam Dughmush
on Nov 26, 2024
Verified
Product innovation will be successful only if it makes the product's
A) marginal utility increase.
B) price decrease.
C) marginal-utility-to-price ratio increase.
D) marginal-utility-to-price ratio decrease.
Marginal-Utility-To-Price Ratio
The comparison of the additional satisfaction obtained from consuming one more unit of a good to its cost.
Marginal Utility
The incremental pleasure or value received from consuming one more unit of a good or service.
- Recognize the impact of product innovation on product utility, cost, and market demand.
Verified Answer
AB
Learning Objectives
- Recognize the impact of product innovation on product utility, cost, and market demand.