The Advantage of Substituting Communication for Travel Becomes Possible When

question 17

True/False

The advantage of substituting communication for travel becomes possible when face-to-face interaction between server and customer is not necessary.

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Definitions:

Profit-Maximizes

Refers to the strategy or objective of an entity or individual aimed at achieving the highest possible profit from its operations, typically by managing costs, pricing, and output.

Profit-Maximizes

Strategies or actions by firms aimed at increasing their profits to the highest possible level.

Total Cost

The market value of the inputs a firm uses in production.

Marginal Cost

The supplementary cost that comes with the creation of one more unit of a product or service.