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At any given time, many different schema control units may be activated. However, we can rarely carry out more than one unit at a time and must select the most appropriate one to translate into action. The units are mutually inhibitory, and only the most activated one wins the competition for expression. This type of selection mechanism is called
MC Curve
The Marginal Cost curve, which shows the increase in total cost that arises from producing one more unit of a good or service.
Short-Run Supply Schedule
A graphical or tabular representation of the quantity of goods a firm is willing and able to supply at different price points, over a short period.
Total Profit
The net amount of money a business retains after subtracting all its expenses, taxes, and costs from its total revenue.
MC Curve
Marginal Cost Curve, which shows the change in total cost that arises when the quantity produced changes by one unit.
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