The Primary Incentive for Entrepreneurs to Bring New Technologies to the Market

question 188

Multiple Choice

The primary incentive for entrepreneurs to bring new technologies to the market is to

• A) reduce average fixed cost.
• B) reduce marginal cost.
• C) increase sales volume.
• D) earn profit.

Understand the role of iconic and echoic memories in the encoding of sensory information.

Appreciate the variations in working-memory capacity across different age groups.

Identify the benefits of distributed practice over massed practice for long-term retention.

Understand the role and impact of semantic processing on memory formation and recall.

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Definitions:

Average Cost

The aggregate expense of manufacturing, when divided by the quantity of items made.

Marginal Costs

The price of generating one more unit of a product or service.

Marginal Productivity

The additional output generated by employing one more unit of a particular resource, while holding other inputs constant.

Returns to Scale

The rate at which production output increases in response to proportional increases in all inputs.