Any Industry That Utilizes Digital Technologies Is on a Path

question 80

True/False

Any industry that utilizes digital technologies is on a path toward increasingly lower costs,ultimately toward a price of free-or at least "free" for consumers.

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Definitions:

Average Cost

The total cost of production divided by the number of goods produced, showing the cost of producing each unit.

Marginal Cost

The cost incurred to produce one additional unit of a product or service.

Average Costs

The total cost of production divided by the quantity produced, indicating the cost per unit of output.

Fixed Costs

Expenses that do not vary with the level of production or sales, such as rent, salaries, and loan payments.