What Would Be the Best Description of the Ming Emperor

question 25

Multiple Choice

What would be the best description of the Ming Emperor Hongwu?

• A)He was proud of being like  Qin   Emperor Shi Huang-di.
• B)He was a stronger general than his grandson and successor, Yongle.
• C)He was generous and a good administrator.
• D)He was capable of great cruelty, but also very talented.
• E)He was known as a good general but not a good administrator.

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Definitions:

Diminishing Returns

A rule in economics that asserts once investments in a specific sector reach beyond a certain threshold, the returns on those investments will not keep rising if all other factors stay unchanged.

Marginal Costs

The additional cost incurred by producing one extra unit of a product or service, crucial for understanding economic efficiency and pricing.

Variable Costs

Expenses that vary directly with the level of production or output.

Long-Run Average Total Cost

The average cost per unit of output where all inputs are considered variable, calculated over a period where firms can adjust all factors of production.