As the Routineness of the Message to Be Sent Increases

question 147

True/False

As the routineness of the message to be sent increases, a richer communication medium should be chosen.

---

Definitions:

Long Run

A period of time in economics during which all factors of production and outputs are variable, allowing for full adjustment to changes.

Perfect Competitor

A theoretical concept in which a market structure has many small sellers, all producing homogeneous products with no control over market price.

Economic Profit

The difference between total revenue and total costs, including both explicit and implicit costs, representing additional gain over and above normative expectations.

ATC

Average Total Cost, which is calculated by dividing the total cost by the quantity of output produced.