If Firms in a Competitive Market Are NOT Identical, Then

question 80

Multiple Choice

If firms in a competitive market are NOT identical, then an increase in cost will

• A)shift marginal cost to the right.
• B)push the most inefficient firms out of the market.
• C)push the most efficient firms out of the market.
• D)Need more information.

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Definitions:

Sensory Information

Data that is perceived by the senses (sight, hearing, smell, taste, touch) and transmitted to the brain for processing.

Axon Hillock

The cone-shaped area of a neuron where the axon originates and where action potentials are initiated.

Telodendria

Fine, thread-like extensions of axons and dendrites at the terminus of neurons, thought to play a role in the transmission of electrical signals to adjacent neurons.

Nucleus

A membrane-bound organelle found in eukaryotic cells that contains the cell's chromosomes, thereby functioning as the cell's command center for gene expression and DNA replication.