The First Computers Were Powered by Thousands of ____________________ That

question 38

Short Answer

The first computers were powered by thousands of ____________________ that needed replacing constantly, required a great deal of electricity, and generated a lot of heat.

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Definitions:

Perfectly Competitive Firm

A company that operates in a market where there are many sellers and buyers, the product is homogeneous, and there is free entry and exit from the market.

MR (Marginal Revenue)

The surplus income obtained by selling an extra unit of a product or service.

MC (Marginal Cost)

The additional cost incurred by producing one more unit of a good or service, critical in determining the optimal level of production.

AVC (Average Variable Cost)

The cost of labor, materials, and other variable expenses divided by the quantity of output produced, excluding fixed costs.