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According to the Text,communication Is Dynamic,continuous,irreversible,interactive,and Contextual

question 17

Essay

According to the text,communication is dynamic,continuous,irreversible,interactive,and contextual.Pick three of the five concepts and explain them using terminology and examples from the communication or social science discipline.


Definitions:

Substitutability

The degree to which one good or service can be replaced by another in consumption, affecting consumer choices and market competition.

Total Cost

The sum of fixed and variable costs incurred by a business in producing a certain level of output.

Elasticity of Demand

A measure of how much the quantity demanded of a good responds to a change in the price of that good, indicating sensitivity.

Marginal Product

The increase in output that results from adding one more unit of a specific input, while keeping other inputs constant.

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