New Communications Technologies,such as Cellphones and the Internet,give Companies New

question 67

True/False

New communications technologies,such as cellphones and the Internet,give companies new media for interacting with targeted consumers,but these new technologies also give consumers more control of the advertising messages they receive.

---

Definitions:

Fifth Worker

An example used in economics to illustrate the principle of diminishing returns, where the addition of a fifth worker may lead to a lesser increment in output than the fourth.

Marginal Product

The additional output that can be produced by adding one more unit of a specific input, keeping all others constant.

Bushel of Wheat

A unit of measure for volumes of wheat, commonly used in agriculture, equivalent to approximately 60 pounds in the United States.

Profit-Maximizing Quantity

The level of production at which a firm can achieve the highest possible profit, determined by the intersection of marginal cost and marginal revenue.