This Question Contains Two Parts; Be Sure to Answer Both

question 37

Essay

This question contains two parts; be sure to answer both.
First, define noise and describe how it can disrupt the communication process.
Second, imagine that you are studying for a final exam for a difficult course. Think about where you typically study. What are the sources of noise in that environment? Describe each, and propose a plan for reducing or eliminating noise so that you can concentrate on your studies.

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Definitions:

Increasing-cost Industry

An industry in which the costs of production increase as the industry expands, often due to limitations in resources or factors of production.

Long-run Supply Curve

A graphical representation showing the relationship between price and quantity supplied over a longer period, when all inputs can be varied.

Perfectly Elastic

Describes a situation in which the quantity demanded or supplied changes by an infinite amount in response to any price change, depicted as a horizontal line on a graph.

Long-run Equilibrium

A state in which all factors of production are variable, leading to a situation where firms only earn normal profits and no incentives exist for entering or exiting the industry.