Answer:
In a decreasing cost industry, the long run supply curve is downward sloping since as output increases and new firms enter, production costs decline. The computer industry is an example of a downward sloping supply curve, since as the number of computers produced increased, the price of inputs, such as chips, decline.
Explanation:
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Answer: 0.9765
Explanation:
The cumulative distribution function for exponential distribution for random variable x is given by :-
, where
is the mean of the distribution .
Given : On average, 5 customers arrive at the drive-up window of a fast-food restaurant every 4 minutes during the lunch hour.
Then 
Now, the probability that the next customer will arrive within three minutes :-

Hence, the probability that the next customer will arrive within three minutes = 0.9765
Answer:
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Explanation: