Examlex
Information technology managers are often in a bind when a new exploit is discovered in the wild.They can respond by updating the affected software or hardware with new code provided by the manufacturer,which runs the risk that a flaw in the update will break the system.Or they can wait until the new code has been extensively tested,but that runs the risk that they will be compromised by the exploit during the testing period.Dealing with these issues is referred to as
Market Characteristics
Features that define a specific market, including the number of buyers and sellers, product differentiation, and level of competition.
Supply Curve
A graphical representation showing the relationship between the price of a good and the quantity of that good that sellers are willing to supply.
Long-Run
A period of time in economics where all factors of production and costs are variable, allowing full adjustment to market changes.
Short-Run
A period of time during which at least one input, such as plant size, cannot be changed; contrasts with the long-run where all inputs are variable.
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