Changes in the Technological Environment Could Be Rejected by the Cultural

question 333

True/False

Changes in the technological environment could be rejected by the cultural and social environment-through the political and legal environments-even though such changes might help the economic environment.

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Definitions:

Average Variable Cost Curve

A graph that displays how the variable cost per unit changes with changes in output level.

Marginal Cost Curve

A graphical representation that shows how the cost of producing one more unit of a good varies as the production level increases.

Average Total Cost

The total cost of production divided by the quantity of output produced; it combines all fixed and variable costs per unit of output.

Total Fixed Costs

The cumulative sum of all costs that remain constant regardless of the level of production or output within a certain period.