Which Type of Mobile Device Is Being Used More Frequently

question 31

Multiple Choice

Which type of mobile device is being used more frequently to provide traffic information services that may use static sensors or traffic cameras to augment built-in maps (to avoid accidents and rush-hour traffic) ?

• A)GPS devices
• B)Smartphones
• C)PDAs
• D)Netbooks

Understanding the concepts of disposable income, consumption, saving, and their respective relationships.

Identifying the contributions of key economists to the development of consumption function theories.

Analyzing the trends in consumer spending on different categories of goods and services over time.

Comprehending the importance of the marginal propensity to consume (MPC) and marginal propensity to save (MPS) and their relation.

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Definitions:

Total Revenue

The total receipts from sales of goods or services over a certain period of time before any expenses are subtracted.

Variable Input

An input in the production process that changes quantity with the level of output, such as labor or raw materials.

Marginal Revenue Product

The additional revenue generated from using one more unit of a factor of production, key in making decisions on resource allocation.

Profit-maximizing

A strategy or process utilized by businesses to determine the price and output level that results in the highest profit.