StuffDOT Is a

question 153

Multiple Choice

StuffDOT is a

• A)wiki.
• B)virtual game world.
• C)virtual social world.
• D)blog.
• E)social network.

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Definitions:

Economic Profit

The difference between revenue generated from output and the opportunity costs of inputs used, considering both explicit and implicit costs.

Accounting Profit

The profit of a company after all expenses have been deducted from revenues, but before deducting income taxes.

AVC (Average Variable Cost)

The total variable cost divided by the quantity of output produced; it varies with production.

MC (Marginal Cost)

Marginal Cost is the change in total cost that arises when the quantity produced is incremented by one unit.