A Technical Specification for Creating a Distributed Registry of Web

question 88

Multiple Choice

A technical specification for creating a distributed registry of Web services and businesses that are open to communicating through Web services is called:

• A) HTML.
• B) B2B.
• C) UDDI.
• D) XML.

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Definitions:

Total Surplus

The sum of consumer and producer surplus; a measure of the overall benefit to society from a market transaction.

Perfectly Price-Discriminated

A pricing strategy situation where a seller charges the maximum possible price for each unit consumed that consumers are willing to pay, thereby capturing all potential consumer surplus.

Perfect Price Discrimination

The act of charging each consumer the maximum price that they are willing to pay for a product, thereby capturing the entire consumer surplus.

Consumer Surplus

The disparity in the consumers' desired payment amount for a good or service and the actual expense they bear.