The "Rule of Thumb" Phrase Comes from the English Common

question 72

True/False

The "rule of thumb" phrase comes from the English common law practice of a husband being allowed to beat his wife with a stick or rod that was no thicker than his thumb.

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Definitions:

Increase Production

A process of ramping up the quantity of goods produced, often in response to higher demand or to achieve economies of scale.

Firm Should

A recommendation or strategy that a business organization is advised to follow in order to optimize performance, achieve objectives, or address specific challenges.

MR<MC

A condition in microeconomics indicating that the marginal revenue is less than the marginal cost, suggesting a decrease in profit if production is increased.

Decrease Production

The act of reducing the quantity of goods produced by a business or economy.