Which of the Following Is True of Web 2

question 22

Multiple Choice

Which of the following is true of Web 2.0?

• A) It categorized entries according to a strict taxonomy.
• B) It offered two-way communication between marketers and consumers.
• C) It was based on the open source model.
• D) It was based on the wisdom of crowds model.
• E) It improved as the number of users decreased.

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Definitions:

Long-Run Average Total Cost

The cost per unit of output incurred when all factors of production are variable, and scale of production can be changed.

Output

The amount of products or services produced by a company, industry, or economic system.

Total Fixed Cost

The sum of all costs that do not change with output level, including rent, salaries, and insurance.

Short Run

A period in economic analysis during which at least one input, such as plant size or capital, is fixed, limiting the ability to adjust to demand changes.