The Key to Flexibility in a Legal System Is Flexibility

question 84

Multiple Choice

The key to flexibility in a legal system is flexibility on the level at which rules and principles are _____.

• A)applied
• B)made
• C)broken
• D)needed

---

Definitions:

Marginal Revenue

The incremental income obtained from the sale of one extra unit of a product or service.

Maximize Profit

The process of adjusting inputs and outputs in order to achieve the highest possible return on investment.

Total Revenue

The total income generated by a firm from its sales activity, calculated as the unit price of a good times the quantity of goods sold.

Profit Increase

The rise in the difference between a company's revenue and its expenses, indicating improved financial performance.