Free Entry Implies That

question 7

Multiple Choice

Free entry implies that

• A) a perfectly competitive firm can never earn a profit.
• B) if firms in an industry are making excessively high profits, new firms are likely to enter the industry.
• C) the government regulates the number of firms that are allowed in an industry.
• D) firms will always earn a profit, as new firms can enter the industry at any time they like.

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Definitions:

Transcription Factors

Proteins that regulate the transcription of genes by binding to specific DNA sequences, thereby controlling gene expression.

Homologous Hox Genes

Genes found in the genomes of many organisms that are responsible for determining the basic structure and orientation of an organism's body plan.

Dorsal-Ventral Patterning

The process by which cells during development become organized and specialized across the back (dorsal) to front (ventral) axis of an organism, critical for proper anatomical formation.

Microbes

Microscopic organisms, including bacteria, viruses, fungi, and protozoa, that can have a vast range of functions and effects on their environments.