Answer:
The correct answer is option b.
Explanation:
In an open economy, domestic firms have to face competition from the foreign producers. If firms face losses in the long run, because of import competition, these firms will leave the industry.
As the number of domestic firms get reduced, the demand curve of the other firms will become flatter. This happens because of the foreign firms that bring in a large variety of goods in the domestic market.
Pay-per-click is an internet advertising model used to drive traffic to websites, in which an advertiser pays a publisher when the ad is clicked. Pay-per-click is commonly associated with first-tier search engines.
A product with a high level of elasticity of demand has the feature of the B. Demand for the product rises and falls depending on circumstances.
<h3>What is Elasticity of Demand?</h3>
This refers to the extent to which there is a price change that causes a product to have a change in demand.
Hence, we can see that when there is a high elasticity of demand, it is usually because there is a variable change in the quantity demanded in relation to its price and this means that B. Demand for the product rises and falls depending on circumstances.
Read more about elasticity of demand here:
brainly.com/question/19141990
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