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Jack is working in an organization as an IT specialist. The company's web server is undergoing a process of security and redundancy enhancement. Hence, the server is now backed up with multiple power supplies and spike protection. Which of the following would strengthen the server in terms of a high uptime?
Purely Competitive
A purely competitive market is characterized by many buyers and sellers, homogeneous products, and no barriers to entry or exit, leading to price taking behavior by firms.
Economic Profit
The difference between a firm's total revenues and its total costs, including both explicit and implicit costs, as opposed to accounting profit which only subtracts explicit costs.
Purely Competitive
A market structure characterized by a large number of sellers and buyers, homogeneous products, and no barriers to entry or exit.
Short-run Supply Curve
Represents the relationship between price and quantity supplied over a short period, assuming some inputs are fixed.
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