Microblogging

question 74

Multiple Choice

Microblogging

• A) is illegal in businesses today.
• B) involves adding website links to a blog to encourage feedback from others.
• C) consists of short messages exchanged on social media networks.
• D) is performed by only corporate officials who write comments about their companies.

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Definitions:

Elasticity of Demand

This refers to the measure of how much the quantity demanded of a good or service changes in response to a change in its price.

Marginal Cost

The heightened cost incurred by the production of an additional unit of a good or service.

Monopoly Power

Monopoly power refers to the ability of a single provider to control the market for a good or service, enabling them to set prices without concern for competition.

Short-run

A period in which at least one input is fixed, limiting the ability of the firm to adjust its production levels.