RFID Is a Network Protocol Used in Credit Cards,smartphones,and Tickets

question 38

True/False

RFID is a network protocol used in credit cards,smartphones,and tickets to facilitate close-range communication.

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Definitions:

Monopolistically Competitive

A market structure characterized by many firms selling products that are substitutes but not perfect substitutes, leading to some degree of market power for each firm.

Fixed Costs

Costs that do not change with the level of output produced, such as rent, salaries, and loan repayments.

Short Run

A period in which at least one of a firm's inputs is fixed and cannot be changed.

Monopolistically Competitive

A market structure with many firms selling products that are substitutes but differentiated enough that each firm's product has its own demand.