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Vigita Adhikari
on Nov 26, 2024

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The profit-enhancing impact of product innovation tends to be on all of the following, except

A) the firm's revenues.
B) the buyers' utility derived from the product.
C) the firm's cost of production.
D) the attractiveness of the product to buyers.

Cost of Production

Refers to the total expenses incurred in the manufacture of goods or services, including raw materials, labor, and overhead costs.

Buyers' Utility

The satisfaction or benefit that consumers receive from purchasing and consuming goods and services.

Firm's Revenues

The total amount of money received by a company from its business activities, before any expenses are subtracted.

  • Understand the critical role that innovation in products and processes plays in boosting the profitability and competitive position of a firm.
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christian maxwellNov 27, 2024
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