What effect do costs have on a product/service's pricing during the introduction stage?
What will be an ideal response?
At the introduction stage, costs are very high. For products, the low quantities being produced causes high material
costs (material prices per unit generally drop as volume increases) and high labor costs (expensive machinery to
replace manual labor cannot be justified at such low production volumes). For services, costs are also high because
of the intensity of staff training in the new services.
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The risk management function should be performed in isolation. There is no need for interaction between the risk management department and other departments.
a. true b. false
One particular concern with administrative law involves the rights of _____ when
dealing with administrative agencies. Fill in the blanks with correct word