The Body's Automatic Tendency to Maintain a Constant and Optimal

question 72

Multiple Choice

The body's automatic tendency to maintain a constant and optimal internal environment is termed

• A) balanced equilibrium.
• B) physiological chance.
• C) homeostasis.
• D) static equilibrium.
• E) estivation.

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Definitions:

Long-Run Equilibrium

A state in which all inputs and outputs in a market are fully adjusted and there is no tendency for change, often associated with perfect competition markets.

Marginal Revenue

The extra revenue obtained by selling an additional unit of a product or service.

Marginal Cost

The cost increase from producing a further unit of a product or service.

Long-Run Equilibrium

Long-run equilibrium occurs in a market when all firms earn normal profits, and no new firms have an incentive to enter or exit, resulting in market stability over time.