Cost Saving Developments-E

question 11

Multiple Choice

Cost saving developments-e.g. ,a new production procedure that shortens a production process by two steps-in a perfectly competitive industry will lead to:

• A)entry by new firms.
• B)economic profits by new firms.
• C)economic profits for a few firms for a short time.
• D)a leftward shift of the supply curve.

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Definitions:

Control Circuit

Used in reference to both cranking systems and air brake systems. In a cranking system, it is the low-current switching circuit that connects the ignition switch with the magnetic switch. In an air brake system, it defines low-volume pilot air signals that are used to activate high-volume slave circuits.

Terminals

Terminals refer to the points at which electrical connections are made to a circuit, device, or a battery, facilitating the transfer of electrical power or signals.

Blade Fuses

Electrical components that protect circuits by melting and breaking the connection when current exceeds safe levels, characterized by their flat, plug-in design.