What Type of Law Is Concerned with the Structures, Powers

question 5

Multiple Choice

What type of law is concerned with the structures, powers and operations of a government and the rights and duties of citizens in relation to the government?

• A) public law
• B) private law
• C) tort law
• D) constitutional law

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Definitions:

Diminishing Marginal Returns

The principle that adding an additional factor of production results in a smaller increase in output after a certain point.

Total Product

The total output or production by a firm using a given amount of inputs within a specific period.

Variable Input

A resource or factor of production whose quantity can be changed easily in the short term to adjust production levels.

Diminishing Marginal Returns

An economic principle stating that as investment in a particular area increases, the rate of profit from that investment, after a certain point, cannot continue to increase if other variables remain at a constant.