If There Are a Large Number of Firms in a Monopolistically

question 11

Multiple Choice

If there are a large number of firms in a monopolistically competitive industry

• A)there will be barriers to entry that prevent additional firms from entering the industry.
• B)there will be a small number of firms that are very large and the rest will be very small.
• C)the firms will converge production on a standardized product.
• D)the country in which the firms are located can be expected to export the goods they produce.
• E)long- run profit will be equal to zero.

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Definitions:

ECU

Stands for Engine Control Unit, an electronic module that controls various engine functions and performance parameters.

Voltage Spikes

Sudden increases in electrical voltage that can potentially cause damage to electronic devices and components.

Circuitry Damage

Damage to the electrical pathways in a device that can interrupt the flow of electricity and impair functionality.

Microprocessors

Small, powerful processors that perform calculations and manage the operations of a computer or specialized hardware device.