In 1947,it Was Estimated That There Would Only Be a Need

question 91

True/False

In 1947,it was estimated that there would only be a need for 100 electronic computers to satisfy the computing needs of the entire United States._________________________

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Definitions:

Profit Maximization

is the process or strategy by which a firm adjusts its production and sale levels to achieve the highest possible profit.

Price Takers

Firms or individuals who accept the market price as given and have no influence to change it.

Product Variety

The range of different goods or services offered by a company or available in a market.

Competitive Price-Searcher

A market participant who sets their prices based on competition and market conditions, often adjusting to attract consumers while remaining profitable.