Multimedia Documents

question 6

Multiple Choice

Multimedia documents

• A) are generally too expensive to produce to be useful in business.
• B) require highly technical training in order to create.
• C) convey information more slowly than traditional documents.
• D) can allow recipients to personalize the communication process to their own needs.
• E) are fine for use in technical fields, but not otherwise.

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Definitions:

Consumer Surplus

The difference between the total amount consumers are willing and able to pay for a good or service and the total amount they actually pay.

Demand Curves

A graph showing the relationship between the price of a good and the quantity of the good that consumers are willing and able to purchase at various prices.

Marginal Revenue

The additional revenue that a firm receives from selling one more unit of a good or service.

Price Discriminate

The strategy of selling the same product or service at different prices to different groups of consumers, often based on their willingness to pay.