Emancipation by Operation of Law Occurs

question 26

Multiple Choice

Emancipation by operation of law occurs:

• A)when the child moves out of the house
• B)when the child reaches the age of majority
• C)when the parent agrees to allow the child to live on his or her own
• D)all of the above

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Definitions:

Marginal Cost

The cost incurred by producing one additional unit of a good or service.

Output

The total amount of goods and services produced by an economic system.

Most Efficiently

Operating in a way that maximizes productivity or benefits while minimizing waste and costs.

Output

The total amount of goods and services produced by an economy, business, or machine in a given period.