Of the Measures of Feasibility,questions Such as "Does the Proposed

question 58

Multiple Choice

Of the measures of feasibility,questions such as "Does the proposed platform have sufficient capacity for future needs?" and "Will the hardware and software environment be reliable?" should be considered while assessing _____.

• A) schedule feasibility
• B) technical feasibility
• C) economic feasibility
• D) ethical feasibility

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Definitions:

Consumer Surplus

Consumer surplus is the difference between the total amount that consumers are willing and able to pay for a good or service versus the total amount that they actually do pay.

Producer Surplus

The difference between what producers are willing to accept for a good or service versus what they actually receive, typically measured as the area above the supply curve and below the market price.

Marginal Benefit

The heightened satisfaction or usefulness derived from the consumption of an extra unit of a good or service.

Marginal Cost

The cost added by producing one extra item of a product. It's a critical concept in economics for determining the optimum production level.