Computers That Once Occupied Full Rooms,but Are Now Approximately the Size

question 44

Multiple Choice

Computers that once occupied full rooms,but are now approximately the size of a refrigerator,are used by large organizations and known as

• A)terminals.
• B)personal computers.
• C)mainframe computers.
• D)supercomputers.

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Definitions:

Price Stickiness

A situation in markets where prices of goods do not adjust immediately to changes in supply and demand conditions.

Profit-Maximizing Price

The price at which a firm can sell its product to maximize its profit, determined by various factors including demand, cost of production, and market competition.

Oligopolist's MC Curve

The marginal cost curve for a firm in an oligopoly, illustrating the cost of producing an additional unit of output, which can influence pricing and output decisions in a market with few competitors.

Total Revenue

The total amount of money generated by a business from the sale of its products or services before any costs or expenses are subtracted.