Midcourse Adjustment, One Form of Microcoordinating Social Interactions Through Cell

question 3

Multiple Choice

Midcourse adjustment, one form of microcoordinating social interactions through cell phones, typically involves:

• A) Adjusting previously-scheduled meeting times
• B) Ignoring previously-scheduled meeting times
• C) Progressively defining when and where to encounter someone through multiple calls
• D) Changing plans once someone has already set out for the encounter

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Definitions:

Opportunity Cost

The cost of forgoing the next best alternative when making a decision.

Accounting Profit

The total revenue of a business minus the explicit costs and depreciation, calculated using standard accounting practices.

Annual Revenue

The total income generated by a company or an organization from its operations, calculated on a yearly basis.

Normal Profit

The level of profit necessary for a company to remain competitive in the market, essentially breaking even when accounting for both explicit and implicit costs.