Instead of Storing a Person's Age,it Is Better to Store

question 33

Short Answer

Instead of storing a person's age,it is better to store the date of birth and use the difference between that value and the system date as a(n)____________________ attribute.

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Definitions:

Perfect Competitors

describes a market structure where many firms sell identical products, and no single seller has any influence over market price.

Market Price

The current price at which a good or service can be bought or sold in the marketplace.

Shutdown Point

The shutdown point refers to the level of output and price at which a company cannot cover its variable costs, leading it to cease operations temporarily.

Profit Maximizing Level of Output

The quantity of production that yields the highest possible profit for a firm, determined by the point where marginal cost equals marginal revenue.