Worldwide Interoperability for Microwave Access (WiMAX) Is a Communications Technology

question 97

True/False

Worldwide Interoperability for Microwave Access (WiMAX) is a communications technology aimed at providing high-speed wireless data over metropolitan area networks.

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Definitions:

Market

A virtual or physical place where buyers and sellers come together to trade goods, services, or financial instruments.

Allocative Efficiency

A state of the economy in which resources are allocated in a way that maximizes the overall benefit to society, with goods and services produced at their highest-valued uses.

Purely Competitive

A market format where numerous small companies offer an identical product with no barriers to entering or leaving the market, resulting in firms accepting the market price as given.

Marginal Benefit

The further utility or pleasure gained from consuming one additional unit of a good or service.