In Order for the Law of Diminishing Returns to Be

question 215

Multiple Choice

In order for the law of diminishing returns to be present, we must have

• A) at least one factor of production to be fixed.
• B) output decreasing as more laborers are hired.
• C) the price of labor increasing as more workers are hired.
• D) simultaneous changes in labor and capital.
• E) double the output when labor input is doubled.

Understand the concepts of wrongful and nonwrongful dissociation in partnerships.

Identify the conditions under which dissociation and dissolution of a partnership occur.

Learn the effects and legal consequences of partner dissociation on partnership agreements.

Understand the process of dissolution and winding up of a partnership.

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Definitions:

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A bell-shaped curve representing the distribution of a set of data where most occurrences take place in the middle of the range.

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