Virtualization Creates Multiple Virtual Machines on a Single Computing Device

question 23

True/False

Virtualization creates multiple virtual machines on a single computing device. A good analogy is a computer printer. In the past you had to purchase a fax machine, copy machine, answering machine, and computer printer separately. This was expensive, required enough energy to run four machines, and created additional amounts of ewaste.

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Definitions:

Long-Run Equilibrium

A state in which all factors of production and costs are variable, and firms make no economic profit or loss over time.

Marginal Cost

The enhanced cost due to the creation of one more unit of a product or service.

Least-Cost Combination

is an economic principle where firms seek to produce a given level of output at the minimum cost by choosing the optimal mix of inputs or factors of production.

Allocative Efficiency

A condition in which resources are distributed in such a way that no single person can be improved in their situation without negatively affecting another, thereby ensuring the optimum benefit for society.