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What Are the Main Characteristics of the IEEE 802

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What are the main characteristics of the IEEE 802.11b standard?


Definitions:

Economic Profit

The difference between total revenue and the total costs of production, including opportunity costs not just explicit costs.

Long Run Equilibrium

A state in which all factors of production and costs are variable, and firms no longer have an incentive to enter or exit an industry, leading to a stable market condition.

Firm

A business organization that sells goods or services in order to make a profit.

Producer Surplus

The difference between what producers are willing to receive for a good or service and the actual amount they receive, due to the market price being higher.

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