State Judges

question 3

Multiple Choice

State judges:

• A) are elected in non-partisan (no party affiliation) in some states
• B) are elected in partisan (party) elections in some states
• C) are appointed by the governor in some states
• D) are selected by the legislature in some states
• E) all of the other choices are correct

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Definitions:

Marginal Cost

The monetary requirement for the generation of one additional unit of a good or service.

Average Total Cost

The total cost of production (fixed plus variable costs) divided by the total quantity of output produced. It measures the cost per unit of output.

Ceteris Paribus

a Latin phrase meaning "all other things being equal," used in economic models to isolate the effect of one variable.

Economies of Scale

The financial advantages gained by companies due to their operational scale, where there's a general decline in the cost per unit of output with the growth in scale.