Technological Development Has Also Created All of the Problems Listed

question 12

Multiple Choice

Technological development has also created all of the problems listed except:

• A) disruption of domestic life.
• B) crowded towns and cities.
• C) health hazards
• (occupational).
• D) the overall loss of employment opportunities.

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Definitions:

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.

Perfectly Competitive

A market structure characterized by a large number of small firms, a homogeneous product, and free entry and exit, leading to price taking behavior.

Total Revenue

The total income received by a company or organization from its normal business activities, usually from the sale of goods and services to customers.