The Property Qualification Required to Serve in the Army Was

question 12

Multiple Choice

The property qualification required to serve in the army was abolished by:

• A)Julius Caesar.
• B)Gaius Marius.
• C)Cicero.
• D)Scipio Africanus.
• E)Marcus Aurelius.

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Definitions:

Variable Inputs

Inputs that can be adjusted in the short term to alter the level of output in the production process.

Marginal Cost Function

A mathematical representation showing how the cost of producing one additional unit of a good changes as production volume changes.

Optimal Output

The level of production that maximizes a firm’s profit or minimizes its cost under given conditions.

Profit

The financial gain acquired when the revenue generated from business activities exceeds the expenses, costs, and taxes needed to sustain the activity.