A Disadvantage Of__________ Software Applications Is That They Are Less

question 17

Multiple Choice

A disadvantage of__________ software applications is that they are less likely to be compatible with other organizations' systems.

• A)licensed
• B)open-source
• C)purchased
• D)custom-designed

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Definitions:

Economic Profits

Profits exceeding the opportunity costs of all resources utilized by a firm, representing superior returns over the next best alternative.

Sole Seller

A market condition where only one supplier provides a particular good or service, also known as a monopoly.

Marginal Cost

The investment needed to produce an extra unit of a product or service.

Marginal Revenue

The extra revenue a company earns by selling an additional unit of a product or service.