An Important Application of a Geofence Is to Notify Personnel

question 50

True/False

An important application of a geofence is to notify personnel when trucks or other containers are nearing their destination.

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Definitions:

Economic Profits

Profits that exceed the opportunity costs of a firm, calculated as total revenues minus both explicit and implicit costs.

Long Run

A period during which all factors of production and costs are variable, and firms can enter or exit the industry.

Total Revenue

The gross revenue from selling products or services before deducting any costs.

Fixed Cost

Expenditures that do not change with the level of production or sales, such as rent, salaries, and insurance.