If There Are a Large Number of Firms in a Monopolistically

question 61

Multiple Choice

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

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

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Definitions:

Graded Potential

A shift in electrical charge across a neuron's membrane, varying in magnitude, that can initiate an action potential if it reaches a threshold.

Action Potential

A rapid, temporary change in a membrane potential across a cell's membrane, leading to the transmission of nerve impulses.

Spatial Summation

The summing of several postsynaptic potentials resulting when several presynaptic neurons release neurotransmitter simultaneously. Compare with temporal summation.

Presynaptic Neurons

Neurons that send signals to a synaptic gap, initiating neurotransmitter release for neuron-to-neuron communication.