Based on the fact that the purely competitive firm is producing at point q, in the long run we should expect firms to leave the industry and market supply to fall so that product price rises.
<h3>What will happen in the long run?</h3><h3 />
At point Q, the firm is making losses as total costs are more then price. Firms will therefore leave the market to avoid making losses.
This decrease in production will lead to reduced supply which will push the prices back up to a $0 profit level.
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Answer:
a.
Explanation:
Based on the information provided within the question it can be said that the first event to occur is that the network router sends traffic to the firewall as well as to the IDS. This is because the information entering your network has to pass through the router which determines which devices connect to the network receive this information. Since you have an IDS set up then the information would pass through the IDS before reaching your device, which if the IDS detects it as suspicious traffic it will warn the firewall.
The supply curve for a good will be more elastic if "production inputs are readily available at a relatively low cost".
<u>Option: C</u>
<u>Explanation:</u>
The graphical interpretation is applied to understand the concept of supply curve for any good available in market. This is done by correlating the cost of a good or service and the supplied amount during a given period. In such representation the cost is mentioned vertically on the left axis, while the amount supplied is mentioned horizontally.
The coverage of responsiveness with respect to variations in cost of demand or supply products is understood as elasticity. Here when the small variations in cost leads to the large variations in consumed amount of product, thus curve become more elastic. While if a curve is found less elastic, which showcase that their is large variations in the price to impact a change in consumed amount.
Answer:
Economic duress
Explanation:
We say there is an economic duress during a contract when one party to the contract threatens to terminate the contract if the other person does not agree to their demands. Brent is asking for more money, if he does not get this, he says he would leave the work unfinished.
When this happens, the other party may be left stuck and may have no option than to agree to the new demands of the contract.
