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Answer:
Identify the sequence of tasks that take the longest to complete
Explanation:
Program Evaluation and Review Technique (PERT) is a project management tool that is used to manage potential contingencies in the process of executing a project. It is used to schedule ,organize and coordinate tasks in a project.
Determining the critical path on a PERT network lists out the time required for different tasks to be completed and as a result , the sequence of tasks that require the longest time are identified.
Answer:
The correct answer is option C.
Explanation:
`If firms can easily enter and exit the market, then firms operating in the market will earn zero economic profit in the long run. This is because the short run is too short for firms to enter and exit so potential firms will enter and exit in the long run.
If the existing firms will be having negative profits, the firms having loss will exit the market. This will reduce market supply. As a result, the price level will increase. This will go on until all firms will have zero economic profits.
Similarly, if the existing firms are having positive economic profits in the long run, the other firms will enter the market. This will increase the market supply such that the price level decreases. This will go on till all the firms will be having zero economic profits.
Answer:
monopoly
Explanation:
In a monopoly market, a single firm sells a product with no close substitutes in a large market. It means that the single firm has no business competitors in the market. Without competition, the firm has the power to set prices, quality, and quantity without worrying about how customers will react.
In a monopoly market, customers have no choice since competition is absent. Customers have to do with high prices, limited varieties, and limited innovation, unlike in market structures that have business competition. Competition results in increased innovation, quality products, and a variety of products at fair prices.
