If an Idea Can Be Shown to Be Technologically Feasible,it

question 24

True/False

If an idea can be shown to be technologically feasible,it is guaranteed to be commercially successful.

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Definitions:

Short-run Profits

Profits earned by a firm when it operates under short-term constraints, where at least one input is fixed.

Average Total Cost

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

Average Total Cost

The overall expense of manufacturing divided by the quantity of products made, indicating the expense for each unit of production.

Profit-maximizing

The process of adjusting production and pricing strategies to achieve the highest possible profit from the sale of goods and services.