Which Kind of Device Reads "Bubble" Marks and Converts Them

question 64

Multiple Choice

Which kind of device reads "bubble" marks and converts them into computer-usable form?

• A) Optical Mark Recognition (OMR)
• B) Magnetic Ink Character-Recognition (MICR)
• C) Optical Character-Recognition (OCR)
• D) Universal Product Code (UPC)

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Definitions:

Monopolized

Dominated or controlled entirely by a single entity, often in reference to a market situation where one firm holds the majority market share.

Lerner Index

A measure of a firm's market power and pricing strategy, defined as the difference between price and marginal cost, scaled by price.

Elastic

Describes a situation where the quantity demanded or supplied of a good or service changes significantly in response to price changes.

Inelastic Demand

Describes a situation where the demand for a product does not change significantly in response to a change in the product's price.