What Technology Can Collect Information to Make Decisions, Reach Conclusions

question 736

Multiple Choice

What technology can collect information to make decisions, reach conclusions, and combine information in new ways?

• A) robotics
• B) artificial intelligence (AI)
• C) virtual reality (VR)
• D) embedded computers

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Definitions:

Labor Supply

Refers to the total hours that workers are willing and able to work at a given wage rate in a specific period.

Profit-maximize

A strategy where a firm makes decisions intended to achieve the highest possible profit.

Profit-maximizing

The point at which a firm achieves the highest possible profit, where the marginal cost of production equals the marginal revenue from sales.

Total Revenue

The total receipts from sales of goods or services over a certain period of time before any expenses are subtracted.