What Was a Customer Service Improvement That Resulted When the National

question 57

Multiple Choice

What was a customer service improvement that resulted when the National Library Board of Singapore installed RFID tags in its books?

• A)The change enabled patrons to download e-books and e-magazines.
• B)Patrons have an opportunity to purchase 'smart bookshelves'.
• C)Librarians can shelve books more efficiently.
• D)The library increased the number of books to 10 million.
• E)Patrons no longer have to stand in line to check out books.

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Definitions:

Tax Revenues

The funds collected by governments through the process of levying taxes.

Point Elasticity

The measure of how much the quantity demanded of a good responds to a change in price at a specific point on the demand curve.

Producer Surplus

The difference between the amount a producer is paid for a good and the minimum amount they are willing to accept for producing it.

Equilibrium Quantity

The quantity of goods or services supplied is equal to the quantity demanded at the market price.