Which of the Following Statements Is True Regarding the Nature

question 78

Multiple Choice

Which of the following statements is true regarding the nature of bailments?

• A) Bailments may be express but not implied.
• B) Bailments may be implied but not express.
• C) Bailments may be implied or express.
• D) Bailments that are not express may be enforced as implied bailments only if a gratuitous bailment is involved.
• E) Bailments that are not express may be enforced as implied bailments only if a mutual benefit bailment is involved.

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Definitions:

Economies of Scale

The cost advantages that enterprises obtain due to their scale of operation, which often leads to a reduced cost per unit of output.

Diseconomies of Scope

A situation in which a single firm producing multiple products has higher costs than if each product were produced by a separate firm.

Economies of Scale

The cost advantages that enterprises obtain due to their scale of operation, which often leads to a reduction in average cost per unit as scale is increased.

Economies of Scope

Cost advantages that a business experiences by expanding the variety of products or services it offers, leveraging shared operations or resources.