A Product-Market Is One in Which

question 144

Multiple Choice

A product-market is one in which

• A) demand is inelastic.
• B) products that are close substitutes for each other compete for customers by trying to satisfy very similar needs.
• C) breakthrough opportunities are no longer possible.
• D) one seller has a patent for a superior product and other competitors try to imitate the leader.
• E) All of the above are true.

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Definitions:

Inhibitory PSPs

Post-synaptic potentials that make a post-synaptic neuron less likely to generate an action potential.

Absolute Refractory Period

A period immediately following the firing of a nerve fiber when it cannot be stimulated for a brief period, regardless of how strong the incoming stimulus may be.

Relative Refractory Period

A period shortly after the firing of a nerve during which the nerve cannot be stimulated to fire again at its maximum rate, but can still respond to a stronger than usual stimulus.

Firing Rate

The frequency at which a neuron discharges electrical impulses over a certain period of time.