Checking to See If the New System Is Doing What

question 115

Multiple Choice

Checking to see if the new system is doing what it is supposed to do is part of:

• A) systems implementation
• B) systems maintenance
• C) post-implementation review
• D) systems operation

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Definitions:

Competitive Firm

is a business that operates in a market where it has to compete with other firms for customers and cannot influence market prices.

Economic Profit

The surplus obtained from total revenues minus both explicit (out-of-pocket) and implicit (opportunity) costs of all resources employed.

Competitive Firm

A company that operates in a market with many buyers and sellers, where no single entity can influence prices on its own.

Optimal Output

The level of production that maximizes a firm's profit, determined by the point where marginal cost equals marginal revenue.