You Cannot Fire a Gun Softly or Flush a Toilet

question 10

Multiple Choice

You cannot fire a gun softly or flush a toilet halfway.Like an action potential, gunfire and a toilet's flush follow the principle.

• A)on-or-off
• B)this-or-that
• C)binary response
• D)all-or-none

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Definitions:

Diseconomies of Scale

The phenomenon where production costs increase as a firm's production scale becomes too large, leading to inefficiencies.

Diseconomies of Scale

The phenomenon where production costs increase as a company grows larger, leading to reduced efficiency.

Bureaucratic

Pertaining to a system of administration characterized by strict policies, procedures, and hierarchy.

Short-run Average Total Cost

The total cost of production (fixed and variable costs combined) divided by the quantity of output produced, calculated when some factors of production are fixed.