The Figure Below Shows the Marginal Benefit of Having a Security

question 70

Multiple Choice

The figure below shows the marginal benefit of having a security camera at the library (MB_L) , the supermarket (MB_S) , and the museum (MB_M) . The marginal cost of hiring a security guard is the same at all three places and is given by MC. The optimal number of security cameras is ______ at the library, ______ at the super market, and ______ at the museum.

• A)2; 5; 8
• B)4; 4; 4
• C)8; 5; 2
• D)5; 8; 11

Comprehend the significance of transaction processing systems and how they support the daily operations of a business.

Grasp the importance of ensuring data quality through various data checks (alphabetic, numeric, completeness, consistency, range) in database systems.

Recognize the utility of providing decision-makers with timely and accurate information through specific types of information systems.

Understand the concepts of real-time and batch processing and their respective advantages for different business needs.

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Definitions:

Competing Firms

Businesses that operate in the same market and offer similar products or services to the same consumer base, often engaging in competition for market share.

Intense Market Competition

A market characteristic where numerous firms vie aggressively for market share, leading to innovations and competitive pricing.

Producer Surplus

The difference between the amount producers are willing and able to sell a good for and the actual amount they receive by selling it at the market price.

Price Level

The average of the current prices of goods and services in an economy, which can be compared over time to assess inflation or deflation.