Bar Coding and Checkout Scanner Technology Have Created a Wealth

question 47

Multiple Choice

Bar coding and checkout scanner technology have created a wealth of consumer buying information that can be used to target customers with precision. This process is an example of ________.

• A) service development
• B) micromarketing
• C) data envelopment analysis
• D) point of sale

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Definitions:

Average Total Cost

The total cost of production divided by the quantity produced, representing the average cost per unit of output.

Average Variable Cost

The cost of labor, material, or overhead that changes in direct proportion to the level of production or output.

Total Cost

The sum of all expenses incurred in the production of goods or services, including both fixed and variable costs.

Fixed Cost

A fixed cost is a business expense that remains constant regardless of the volume of goods or services produced by an entity.