e inconvenience of obtaining a product or receiving a service is called A) unava
ID: 426893 • Letter: E
Question
e inconvenience of obtaining a product or receiving a service is called A) unavailability 4) Th C) timing. B) fit. D) transaction cost. 5) Which of the following statements about a firm's capabilities is FALSE? A) A firm's capabilities can be defined as the dimensions of the customer's utility function it is able to satisfy B) A firm has capabilities to do well on some dimensions of its customers' utility function. C) A firm has capabilities to do well on all dimensions of its customers' utility function. D) How well a firm can satisfy its customers' utility function is dependent on its capabilities. 6) You are considering four hotels that differ from each other with respect to their price and customer revieWS: Reviews (1 worst.5-best) Hotel Hl H2 H3 H4 Price $100 $250 $200 $150 4 Which of these hotels is inefficient? A) H3 B) H1 C) H4 D) H2Explanation / Answer
4. The inconvenience of obtaining a product or receiving a service is called transaction cost.
Answer: Option D
5. A firm has capabilities to do well on some but not all dimensions of its customers’ utility function. So Option C is False.
Answer: Option C
6. A firm that is not on the efficient frontier is inefficient. In this case H4 is completely inefficient.
Answer: Option C
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