If Firms Are Able to Freely Enter and Exit a Monopolistically

question 58

Multiple Choice

If firms are able to freely enter and exit a monopolistically competitive industry,then we can predict

• A)a negatively sloped demand curve for the industry.
• B)that exit will occur until no firm has excess capacity.
• C)strategic behaviour with regard to other firms in the industry.
• D)brand proliferation.
• E)zero profits in long- run equilibrium.

Comprehend how sales territories benefit both the company and its customers.

Develop calculation skills for financial aspects of sales, such as determining gross profit percentage and break-even points.

Acknowledge the role of technology in enhancing sales activities and analysis.

Understand the principles of effective territory management and the establishment of sales territories.

---

Definitions:

Secondary Lock

Any of a number of different types of backup locking device; an example is the secondary locking device used on most fifth wheels, which is either manually or automatically engaged.

Stitch Welded

A welding process where welds are made at intervals along the pieces being joined, rather than in a continuous seam, to hold the pieces together while limiting heat distortion.

AWS E-11018

A specification for a type of covered electrode used in shielded metal arc welding, known for its excellent mechanical properties and crack resistance.