Early Communications Networks, Such as the Telephone System, Used a Technology

question 33

Multiple Choice

Early communications networks, such as the telephone system, used a technology called _____ switching, which essentially established a dedicated, private link between two telephones for the duration of a call.

• A) circuit
• B) packet
• C) connection
• D) line

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Definitions:

Marginal Cost

The cost added by producing one additional unit of a product or service.

Average Total Cost

Calculated as the total cost of production (fixed plus variable costs) divided by the total output, indicating the average cost per unit produced.

Average Variable Cost

The total variable costs (costs that vary with production volume) divided by the quantity of output produced, representing the variable cost per unit.

Net Present Value (NPV)

The difference between the present value of cash inflows and the present value of cash outflows over a period of time. It's used to evaluate the profitability of an investment or project.