The Physical Database Is an Abstract Representation of the Database

question 88

True/False

The physical database is an abstract representation of the database.

---

Definitions:

Zero Marginal Cost

The cost incurred by producing one additional unit of a product or service when this cost is effectively zero, often due to technological advances.

Duopolists

Firms or entities that are two in number in a market, dominating the market and setting prices either collaboratively or competitively.

Monopolist

An entity that is the sole provider of a particular product or service, controlling the entire market.

Monopoly Price

The price a company with a monopoly can charge, which is higher than in competitive markets due to the lack of competition.