Melissa, a New Employee at Epic Electronics, Is Required to Perform

question 137

Multiple Choice

Melissa, a new employee at Epic Electronics, is required to perform a variety of bookkeeping and clerical tasks at a workstation. Epic has training software on its workstations that can answer many of the questions she has about what to do on her new job, and how to do it. The software is so good that she rarely asks her supervisor for help. It even tracks the way Melissa performs certain tasks, and offers suggestions to improve her productivity. This software is an example of

• A) the use of a technique called computer aided production (CAP) that is becoming increasingly important in high-tech industries.
• B) the trend toward telecommuting.
• C) the way businesses are using knowledge technology to move relevant information to the people who need it.
• D) why mainframe computer systems are more efficient than network computer systems.

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Definitions:

Total Market

The total market refers to the entire demand for a specific good or service within a given geographic area or industry.

Market Price

The current price at which an asset or service can be bought or sold in the marketplace.

Deadweight Loss

A dip in economic optimization that happens when the equilibrium of a good or service in the free market is not realized.

Price-Discriminates

The practice of selling the same product to different buyers at different prices based on their willingness to pay, not differences in production costs.