Case Based Critical Thinking Questions Case 1 Casey Is Researching

question 131

Multiple Choice

Case Based Critical Thinking Questions Case 1 Casey is researching the history of computers for her Introduction to Computer Concepts course. She is creating a presentation that includes information on mechanical calculators, computer prototypes, and the different generations of computers. Casey wants to highlight the computer to first use vacuum tubes instead of mechanical switches. Which will she highlight?

• A) The Atanasoff-Berry Computer
• B) The Z3
• C) The Z4
• D) The Harvard Mark III

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Definitions:

Normal Profit

The level of profit necessary for a company to remain competitive in the market, essentially breaking even when accounting for both explicit and implicit costs.

Implicit Costs

The opportunity costs of using resources owned by the firm for its own use, rather than selling those resources externally.

Economic Profits

The surplus remaining after deducting all costs, including opportunity costs, from total revenues, indicating the financial performance exceeding the break-even point.

Implicit Costs

The opportunity costs that arise from using resources owned by the firm for its own production instead of earning revenue from these resources elsewhere.