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Action potentials are propagated in only one direction,down the axon.Explain how the absolute refractory period of the voltage-gated Na⁺ channels and the brief hyperpolarization resulting from K⁺ efflux produces this outcome.
Total Revenue
The amount a firm receives for the sale of its output.
Nash Equilibrium
A concept within game theory where no participant can gain by a unilateral change of strategy if the strategies of the others remain unchanged.
Profit-Maximizing
The process by which a firm determines the price and output level that returns the maximum profit.
Marginal Cost
The increase or decrease in the total cost that arises from producing one additional unit of a product.
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