The Failure of a Party to Be Present at an Arbitration

question 17

True/False

The failure of a party to be present at an arbitration constitutes a waiver of the right to reject the arbitration award and seek de novo judicial review.

---

Definitions:

Production Function

An equation or representation showing the relationship between inputs used in production and the output of goods and services.

Total Cost

The total expense of production encompassing both constant and fluctuating costs.

Average Variable Cost

The total variable costs of production divided by the quantity of output produced.

Total Variable Cost

The sum of expenses that vary directly with the level of production or sales volume.