The Legacy Louis XIV Left to France Was

question 122

Multiple Choice

The legacy Louis XIV left to France was

• A)control,finally,over the foreign trade of the Netherlands.
• B)a hugely expanded territorial domain.
• C)a nation that was financially destitute.
• D)the friendship of the rest of Europe.
• E)both c and d

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Definitions:

AVC

Average Variable Cost, the variable cost per unit of output.

Law Of Diminishing Returns

An economic principle stating that as investment in a particular area increases, the rate of profit from that investment, after a certain point, cannot continue to increase if all other variables remain at a constant.

Marginal Output

The additional quantity of a product that is produced from using one more unit of an input, keeping other inputs constant.

Diminishing Returns

A principle stating that if one factor of production is increased while other factors are held constant, the incremental output or benefit gained will eventually decrease.