A(n) ____________________ Is Any Response That Occurs Automatically Without Conscious

question 226

Short Answer

A(n) ____________________ is any response that occurs automatically without conscious effort.

---

Definitions:

Perfectly Competitive Firm

A hypothetical business in a market where no single company can influence the market price or product quality, leading to an efficient allocation of resources.

Short Run

A period in economics during which at least one factor of production is fixed, limiting the ability to increase production in response to increased demand.

Profitable

A financial status where the income generated from business activities exceeds the expenses, taxes, and costs associated with maintaining the business.

Marginal Revenue

The additional revenue that a company earns from selling one more unit of a product or service.