If There Are No Barriers to Entry into an Industry

question 63

Multiple Choice

If there are no barriers to entry into an industry

• A) short-run economic profits must be zero.
• B) long-run economic profits must be zero.
• C) both short-run and long-run economic profits must be zero.
• D) short-run and long-run profits must still be positive.

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Definitions:

Repolarization

The restoration of the membrane potential to its resting state after depolarization in excitable cells.

Afterpotential

The changes in membrane potential that occur after an action potential, often influencing the neuron's excitability.

Voltage-Gated Channel

A type of ion channel that opens or closes in response to changes in membrane potential.

Chemical Synapse

A specialized junction through which neurons signal to each other and to non-neuronal cells, allowing ion or molecule movements that facilitate neurotransmission.