Examlex
The "truth in sentencing" movement ensures that violent offenders serve at least 65 percent of the prison terms they receive in court.
Marginal Cost (MC) Curves
Graphs showing the cost of producing one additional unit of a good, illustrating how the cost varies with the level of output.
Diminishing Returns
A rule in economics that holds that after reaching a certain level, further investments in a specific sector will not yield higher returns if all other conditions stay the same.
Law of Demand
The economic principle stating that as the price of a good increases, demand for that good will decrease, and vice versa.
Marginal Cost (MC) Curve
A graphical representation showing how the cost to produce one additional unit of output changes as production volume increases.
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