____ Includes All the Programs That Allow a User to Perform

question 12

Multiple Choice

____ includes all the programs that allow a user to perform specific tasks on a computer, such as writing a letter.

• A) System software
• B) Utility programs
• C) Application software
• D) Background programs

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Definitions:

Economic Profits

The surplus remaining after deducting both the explicit and implicit costs from total revenues; represents extra earnings above the next best alternative.

Fair Return

The reasonable profit that a business can expect to make, considering the risk involved.

Pure Monopoly

A market structure where a single firm is the sole producer of a product or service with no close substitutes, giving it significant control over price.

Profit-maximizing Price

The price level at which a company can sell its product or service to maximize its profit, considering cost, demand, and competition.