Examlex
If a firm's long-run average total costs increase as it increases its scale of production,the firm is experiencing
Full Warranty
A comprehensive warranty that covers repair or replacement of any defect in a product during the warranty period.
Implied Warranty
A legal assumption that a product will perform as expected without explicit statements by the seller regarding its quality or performance.
Warranty Of Merchantability
A legal guarantee that a product sold by a merchant fits its ordinary purposes and meets the buyer’s expectations.
Breach
The violation or non-fulfillment of a legal obligation, agreement, or law.
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