Examlex
We can construct a LRAC curve from a succession of SRAC curves. We call this LRAC curve:
Legislation
Laws enacted by a governmental body, such as statutes or acts, established to regulate, authorize, sanction, grant, declare, or restrict.
Mediator
A neutral third party who facilitates discussion between parties to a dispute to encourage and assist their coming to an agreement; sometimes referred to as a conciliator.
Agreement
A mutual understanding or arrangement between two or more parties, usually establishing a legal obligation.
Administrative Tribunals
Specialized dispute adjudication forums created by statute, that have been given quasi-judicial powers to resolve disputes and enforce legislation.
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