Binary Digits Have Only _____ Possible Value(s)

question 35

Multiple Choice

Binary digits have only _____ possible value(s) .

• A) one
• B) two
• C) three
• D) four

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Definitions:

Long-Run Equilibrium

A state in which all firms in an industry are making normal profit and there is no incentive for market entry or exit.

Profit-Maximizing Price

The price point at which a business can sell its product or service to generate the maximum net profit.

Panel

A group of selected individuals gathered to discuss, debate, or provide advice on a particular topic or to evaluate submissions in contest or applications.

Long-Run Equilibrium

A state in which all factors of production and outputs are optimally allocated, and economic forces are balanced, leading to no further incentive for change.