Innove Tech Is a Technological Firm That Wants to Build

question 7

Multiple Choice

Innove Tech is a technological firm that wants to build a global service delivery system. It has consulted a larger firm, Ziff Corp., to obtain the proven technology required to establish this system. In the context of the costs of useful information, Innove Tech incurred _____.

• A) processing cost
• B) retrieval cost
• C) acquisition cost
• D) storage cost

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Definitions:

Leisure

Free time when one is not working or occupied; time that can be spent on relaxation or hobbies.

Utility Function

A mathematical representation used in economics to model the preference satisfaction or happiness that a consumer derives from consuming goods and services.

Fruit Farm

An agricultural establishment primarily engaged in the cultivation of fruit-bearing trees, bushes, and plants.

Secret Admirer

A person who has romantic feelings for someone else but keeps these feelings secret, often sending anonymous gifts or messages.