When a Single Firm Can Supply a Good or Service

question 56

Short Answer

When a single firm can supply a good or service to an entire market at a lower cost than could two or more firms, the industry is known as a

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Definitions:

Cannon-Bard Theory

A theory of emotion that proposes the physiological reaction and the experience of emotion occur simultaneously and independently.

Heart Starts Pounding

A sensation often occurring during moments of stress, fear, or exertion, where the heartbeat becomes more pronounced and faster due to increased adrenaline and workload on the heart.

Fear

An emotional response to a perceived threat, which can be real or imagined, leading to a fight-or-flight reaction.

Brain's Processing

Refers to how the brain interprets, integrates, and responds to information received through the senses.