A Local Bank Is Contemplating Adding a New ATM to Their

question 7

Multiple Choice

A local bank is contemplating adding a new ATM to their lobby. They will need another phone line to provide communications that has a monthly cost of $50 per month. This is an example of:

• A)incremental cash flow.
• B)sunk cost.
• C)complementary costs.
• D)none of these.

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Definitions:

Sensory Memory

The shortest-term element of memory, it's the ability to retain impressions of sensory information after the original stimuli have ended, acting almost as a buffer for stimuli through the senses.

Schemas

Cognitive structures or frameworks that help individuals organize and interpret information.

Short-term

Describing something of limited duration, often applied to memory systems that hold information temporarily.

George Miller

A psychologist best known for his work in cognitive psychology and for proposing the theory that the short-term memory could hold 7±2 items.