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____________________ Is a Process Where the Computer Makes a Decision

question 52

Essay

____________________ is a process where the computer makes a decision, analyzes the results, and then makes a better decision based on the analysis.


Definitions:

Profit-Maximizing Quantity

The level of production at which a company can achieve the highest possible profit.

Panel

A group of people selected to discuss, investigate, or decide on matters pertaining to a particular subject or to give expert advice.

Intersection

The point at which two or more lines, streets, or elements meet or cross.

Long-Run Equilibrium

A state in which all factors of production and costs are variable, and firms in a competitive market have no incentive to enter or exit because they are earning normal profit.

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