Scenario B

question 99

Multiple Choice

Scenario B. Suppose that after reviewing the history of many successful entrepreneurial ventures, a few of them stand out in your mind as interesting. They are:
1. Minute Clinic's health care kiosks in Target and Albertson's Food stores.
2. Visionics biometric software that can assist in identifying runaways, shoplifters or terrorists.
3. Nanostring's molecular bar coding enterprise.
4. The tourism industry at Mt. St. Helens, a volcano in the U.S. that recently erupted.

-The tourism industry at Mt.St.Helens is an example of business that was created as a result of

• A)a technological discovery.
• B)demographic changes.
• C)an economic dislocation.
• D)a calamity.
• E)government initiatives and rule changes.

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Definitions:

Profit-Maximizing Level

The point at which a company can achieve the highest possible profit, typically determined by analyzing costs and revenue.

Graph

A visual representation of data, showing the relationship between two or more variables or plotting points in a coordinate system.

Profit-Maximizing Level

The output quantity at which a firm achieves the highest possible profit by equating marginal revenue with marginal cost.

Output

The total amount of goods and services produced by an economy over a specific period.