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Three Technologies Make Extended Supply-Chain Systems Feasible

question 17

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Three technologies make extended supply-chain systems feasible.Which of the below is not one?


Definitions:

Profit-maximizing

The process or methodology by which a business seeks to find the best output and sales levels to achieve the highest profits possible.

Marginal Revenue Product

The extra income produced by using an additional unit of a resource, like labor or capital.

Purely Competitive

A market structure characterized by many buyers and sellers, free entry and exit, and a homogeneous product, leading to price taking by firms.

Marginal Product

The additional output resulting from the use of one more unit of a factor of production.

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