The Inspector General's Report Found That Private Prisons Had Higher

question 100

True/False

The inspector general's report found that private prisons had higher instances of safety and security violations compared to publicly-funded prisons in the federal system.

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Definitions:

Shutting-Down

The process a business undertakes to cease operations, often due to financial problems or a strategic decision.

Short Run

A period in which at least one factor of production is fixed, limiting the ability of a business to adjust fully to changes in market conditions.

Average Variable Costs

Costs that vary with the level of output, calculated by dividing the total variable costs by the quantity of output produced.

Shutting-Down

A short-run decision by a firm to halt production because operating would lead to a loss greater than the fixed costs.