Myspace Is the Leader in Social Networking;it Has Waged a Constant

question 165

True/False

Myspace is the leader in social networking;it has waged a constant struggle to develop viable methods of generating revenue.

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Definitions:

Fixed Costs

Costs that do not vary with the level of output or sales in the short term, such as rent, salaries, or loan payments.

Long Run

A period of time in economics in which all factors of production and costs are variable, allowing all inputs to be adjusted.

Output

The total amount of goods or services produced by a company, industry, or economy within a specified period.

Total Cost

The complete cost of production, including both fixed and variable costs, incurred by a firm in producing and selling a quantity of a good or service.