In the Context of the Trends in Technology,communication,and Innovation,the Creation

question 71

Multiple Choice

In the context of the trends in technology,communication,and innovation,the creation of a digital framework:

• A) made business communication vastly more expensive.
• B) made the microprocessor obsolete.
• C) allowed high-power computer performance at low cost.
• D) required satellites for all forms of communication.

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Definitions:

Diseconomies of Scale

An economic concept referring to a situation where, as a firm expands, the costs per unit increase.

Long-Run Average Total Cost Curve

A graphical representation that shows the lowest average total cost at which a firm can produce any given level of output in the long run, where all inputs are variable.

Downward-Sloping

A term often used in economics to describe a curve or line that represents a decrease in one variable as another increases, typical in demand curves.

Long Run

A period in which all factors of production and costs are variable, allowing for adjustment to changes.