Processing Speed and the Memory of a Computer Is an Example

question 16

Multiple Choice

Processing speed and the memory of a computer is an example of a:

• A)intangible attributes
• B)tangible attributes
• C)commodities
• D)semantic attributes
• E)All of the above are correct.

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Definitions:

Resource Prices

The costs associated with acquiring inputs needed for production, including raw materials, labor, and capital.

Decline

A decrease in the quantity, quality, or level of something over time.

Constant-Cost Industry

An industry in which the cost of production does not change as the industry's output changes.

Long-Run Supply Curve

A graphical representation showing the relationship between the price of a good and the quantity supplied over a period long enough for firms to enter or exit the market.