Identify a Benefit of Adopting Technology

question 17

Multiple Choice

Identify a benefit of adopting technology.

• A) Technology helps restructure old and less productive industries.
• B) The use of technology increases opportunities for employee empowerment.
• C) Technology increases opportunities for employee creativity.
• D) The use of technology does not require adherence to any laws or regulations.

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Definitions:

Perfect Competition

A market structure characterized by a large number of small firms, a homogenous product, perfect information, and easy entry and exit, leading to firms being price takers.

Marginal Decision Rule

A principle stating that an action should be taken if, and only if, the marginal benefit of the action exceeds its marginal cost.

Marginal Revenue

The extra revenue gained from the sale of an additional unit of a product or service.

Perfect Competition

A market structure characterized by many buyers and sellers, freedom of entry and exit, and a homogeneous product.