For Each Input and Output, a Systems Analyst Typically Develops

question 87

Multiple Choice

For each input and output, a systems analyst typically develops a sample of the input or output that contains actual data. What is this sample called?

• A) adaptation
• B) prototype
• C) mock-up
• D) feasibility scheme

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Definitions:

Short-Run Equilibrium

Short-run equilibrium occurs when in a market, the quantity supplied equals the quantity demanded at the current price, before any long-term adjustments are made.

MR > MC

A situation in marginal analysis where the marginal revenue (MR) exceeds the marginal cost (MC), suggesting a potential increase in profitability by expanding production.

P > ATC

A scenario in which the price of a good is greater than the average total cost of producing that good, indicating potential profitability for the firm.

Short Run

A period in economic analysis where at least one input is fixed while others can be varied.