The Schumpeterian Hypothesis Asserts That

question 21

Multiple Choice

The Schumpeterian hypothesis asserts that:

• A)the importance of entrepreneurs has been overestimated.
• B)innovation is more profitable for firms with large market shares.
• C)the deadweight loss of monopolistic competition is outweighed by its external economies.
• D)decreasing cost curves are incompatible with innovation.
• E)perfect competition is the likely outcome of any market evolution.

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Definitions:

Protonephridia

A network of dead-end tubules lacking internal openings in certain invertebrates, serving as an excretory and osmoregulatory system.

Nephridia

Excretory organs in many invertebrates, responsible for the removal of waste products from an organism's body.

Lancelets

Small, fish-like marine animals belonging to the subphylum Cephalochordata, known for their role as a model organism in evolutionary biology.

Nephridiopores

External openings of the nephridia, which are excretory organs in many invertebrates, allowing waste to exit the body.