The Cloud Model of Resources Reflects

question 9

Multiple Choice

The cloud model of resources reflects

• A)obtaining data as needed from servers at another location via the Internet.
• B)keeping a printed hard-copy of the data on hand to duplicate the data available on your own computer.
• C)using a mobile device (such as a phone or tablet)to synch multiple copies of your data with your own personal computer.
• D)using the resources of several volunteers together to complete a project.

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Definitions:

Average Revenue

The amount of income generated per unit of sale or services rendered, calculated by dividing the total revenue by the number of units sold.

Total Revenue

The overall amount of money generated by a firm from selling its products or services, calculated as the quantity of goods sold multiplied by the price of the goods.

Perfectly Elastic

A situation where a small change in price leads to an infinite change in quantity demanded or supplied, depicted as a horizontal line on a graph.

Perfectly Inelastic

A situation in which the quantity demanded or supplied does not change regardless of changes in price.