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Describe an action potential and explain why a region of the membrane that is in the absolute refractory period cannot experience another action potential until repolarization is complete. Include the following in your
Loan
A sum of money that is borrowed and expected to be paid back with interest.
Economies of Scale
Refers to the cost advantage that arises with increased output of a product, leading to a reduction in the per-unit cost.
Marginal Cost
An alternative phrasing expressing the additional cost incurred from the production of the next unit of output.
Average Total Cost
The cost per unit is calculated by dividing the overall production cost by the quantity of units produced.
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