What does the cell indicated by the arrow secrete?
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This is a goblet cell and it secretes mucus to protect mucous membranes.
Goblet cells are glandular simple columnar epithelial cells that secrete gel-forming mucins (the major component of mucus). This image is from the ileum.
Refs: Bacha and Bacha, Color Atlas of Veterinary Histology, 3rd ed. Image courtesy of Arcadian.