_____ Incorporates Many Recent Technologies Under One Platform, Including the Software

question 106

Multiple Choice

_____ incorporates many recent technologies under one platform, including the software as a service (SaaS) model, Web 2.0, grid computing, and utility computing.

• A)A biometric system
• B)Distributed computing
• C)Cloud computing
• D)A mainframe computer system

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Definitions:

Long-run Equilibrium

A state in which all firms in a competitive market are making just enough profit to stay in business, with no incentive to enter or leave the market.

MR = MC

A condition where a firm's marginal revenue (MR) equals its marginal cost (MC), commonly used to determine the profit-maximizing level of output.

ATC

Stands for Average Total Cost, which is the cost per unit of output, calculated by dividing the total cost by the quantity produced.

Average Total Cost

The sum of all production costs divided by the quantity of output produced, synonymous with the cost per unit including all variable and fixed costs.