In General, the Effects of the Electronic New Media in the Early

question 28

Multiple Choice

In general, the effects of the electronic new media in the early twentieth century were

• A) used to reinforce existing political and economic power structures.
• B) restricted to those with extensive education and training in their use.
• C) of greater benefit to corporations than to ordinary citizens.
• D) democratizing for ordinary citizens.
• E) complementary to the interests of the traditional mainstream media.

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Definitions:

Long-Run Adjustment

The process of economic agents fully adapting to changes in conditions or policies over time, reaching a new equilibrium.

Economic Profits

The difference between total revenue and total costs, including both explicit and implicit costs, representing the additional amount earned beyond the next best alternative.

Economies of Scale

Cost advantages that a business can achieve by increasing the scale of production, leading to a lower cost per unit of output.

Economic Profit

The difference between a firm’s total revenue and its total costs, including both explicit and implicit costs.