Performance of an Accord Discharges an Original Contractual Obligation

question 13

True/False

Performance of an accord discharges an original contractual obligation.

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Definitions:

Diseconomies of Scale

A situation where, as a firm becomes larger, its costs per unit increase due to inefficiencies that arise from its growth.

Constant Costs

The costs that remain unchanged as the level of output or production increases or decreases.

AVC Curve

A graphical depiction of the average variable costs incurred by a firm in the short run, illustrating how costs vary with output levels.