Automatic Processing Takes Little Effort,but It Is Time-Consuming

question 74

True/False

Automatic processing takes little effort,but it is time-consuming.

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Definitions:

Output

The total amount of goods or services produced by a person, machine, company, or economy.

Price

The sum of money needed to buy a product or service.

Competitive Price-Taker

A firm in a competitive market that has no ability to influence the price of the product it sells; it must take the market price as given.

Marginal Cost

The additional cost incurred by producing one more unit of a good or service.