The Parental Duty of Support Is Terminated If a Minor

question 42

True/False

The parental duty of support is terminated if a minor becomes emancipated.

---

Definitions:

Number of Firms

Refers to the total count of business entities participating in a particular market or industry.

Long-Run Equilibrium

a state in which all factors of production can be adjusted, and all firms in the market are making zero economic profits, reflecting a situation of perfect competition.

Marginal Cost

The change in total cost that arises when the quantity produced is incremented by one unit; essentially, the cost of producing one more unit of a good.