_____ may also occur when higher-cost external producers are replaced by lower-cost external producers within the free trade area.

In general, retailing is characterized by the relative ease of entry when compared with manufacturing activities

Indicate whether the statement is true or false

A professor decides to hold a three hour window open for student advising. The professor has 15 advisees. He's unsure if each advisee will show up, and its possible that a single advisee could show up multiple times during the 3 hour window

On average, the professor will spend 12 minutes with each student. He usually expects each student to arrive once during the 3 hour window. (a) What proportion of the time can the professor expect to be busy during the window? (b) What is the expected number of students in queue during the window? (c) What is the expected wait time in queue during the window?