The New Amazon Go Concept Store Shows How a Tech

question 78

Multiple Choice

The new Amazon Go concept store shows how a tech giant could really advance retail. The initial concept shows a store without cashiers and registers, where customers enter by __________.

• A) user password
• B) voice recognition
• C) facial recognition
• D) scanning an app
• E) none of the above

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Definitions:

Average Total Cost

The total cost of production divided by the number of units produced, used to analyze cost behaviors in economics.

Producer Surplus

The difference between the amount producers are willing and able to sell a product for and the actual amount they receive, often representing profit.

Total Surplus

The total net gain for society derived from the creation and utilization of goods or services, calculated as the combined value of consumer and producer surplus.

Net Welfare Gain

The improvement in societal well-being, measured as the sum of consumer and producer surplus, arising from economic transactions or policy changes.