If There Are a Large Number of Firms in a Monopolistically

question 43

Multiple Choice

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

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

Understand the role of genetic variability in species adaptation and survival.

Identify the mechanisms and consequences of speciation.

Comprehend the role of physical barriers and environmental changes in promoting genetic diversity and speciation.

Understand the key components of leadership success as exemplified by Abraham Lincoln.

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Definitions:

Volcanic Dome

A rounded mound formed over a volcanic vent, created by the slow extrusion of viscous lava from a volcano.

Fissure

1. A fracture or crack on the land surface, such as that which forms by differential subsidence. 2. A magma-filled fracture in the subsurface that typically solidifies into a dike, or a linear volcanic vent erupting onto the land surface.

Volcanic Ash

Fine particles of rock and volcanic glass expelled into the air during a volcanic eruption.

Volcanic Rocks

Rocks formed from magma or lava that has cooled and solidified on or near the Earth's surface.