Vladimir Is a "Payday" Lender Charged with Filing False Claims

question 62

Multiple Choice

Vladimir is a "payday" lender charged with filing false claims in bankruptcy proceedings against his customer-debtors.The standard of proof to find a defendant who has been charged with a crime guilty is

• A)a preponderance of the evidence.
• B)beyond all doubt.
• C)beyond a reasonable doubt.
• D)clear and convincing evidence.

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Definitions:

Implicit Cost

The opportunity cost of using resources already owned by the firm for its current purpose, rather than their next best alternative use.

Economic Profits

The surplus remaining after total costs (both explicit and implicit) are subtracted from total revenues, often indicating the financial health and efficiency of a company.

Long-Run Average Cost

The average cost per unit of output where all inputs, including capital, are variable over time, reflecting economies or diseconomies of scale.

Plant Size

The capacity or physical extent of a manufacturing facility, which influences its production capabilities, economies of scale, and operational efficiency.