_________ Budgets Are by Far the Most Expensive Part of the Penal

question 62

Multiple Choice

_________ budgets are by far the most expensive part of the penal system.

• A) Jail
• B) Prison
• C) Probation and parole
• D) Rehabilitation and treatment

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Definitions:

Long-Run Average Total Cost Curve

A graphical representation showing the relationship between output and average total cost when fixed cost has been chosen to minimize average total cost for each level of output.

Minimum

The lowest allowable or possible amount, level, or point.

Marginal Cost

The amount needed to generate one more unit of a good or service.

Average Total Cost

The overall expense of manufacturing, when dispersed across the number of products made, encompassing both constant and fluctuating expenses.