Technological Advances Are Difficult to Predict, However, Four New Technologies

question 234

Multiple Choice

Technological advances are difficult to predict, however, four new technologies that are expected to have impact on marketing within the next few years include

• A)nanotechnology, biotechnology, cloud computing, and wireless power.
• B)biotechnology, radiography, stellar imaging, and crystal power.
• C)bio-imaging, wireless power, radiography, and solar power.
• D)chemical vaporization, biotechnology, radiation spectrum analysis, and bio-fuels.
• E)neuron technology, radiation spectrum analysis, cloud computing, and wireless power.

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Definitions:

Monopolist

An individual or entity that holds exclusive control over the supply of a particular goods or service, allowing them to manipulate market conditions.

Marginal Cost

The increase in total production cost that arises from producing one additional unit of a good or service.

Average Cost

The total cost of production divided by the number of goods produced, also known as unit cost.

Deadweight Loss

A reduction in economic effectiveness that happens when a good or service does not reach or cannot reach equilibrium.