A Firm Has the Production Function F(x, Y) = X¹

question 22

Multiple Choice

A firm has the production function f(x, y) = x^1.10y^1.30. This firm has

• A) decreasing returns to scale and diminishing marginal product for factor x.
• B) increasing returns to scale and decreasing marginal product for factor x.
• C) constant returns to scale.
• D) decreasing returns to scale and increasing marginal product for factor x.
• E) None of the above.

Describe the process of mutual assent in contract formation.

Identify and classify the types of parties under Article 2 of the UCC.

Understand the characteristics and legal status of option contracts.

Recognize and interpret the significance of specific legal precedents in contract law.

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Definitions:

Trademark

Brand that has been given legal protection.

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Easy to Pronounce

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