The Law of Decreasing Returns Applies to

question 51

Multiple Choice

The law of decreasing returns applies to

• A) the long-run average cost curve.
• B) average total cost.
• C) diseconomies of scale.
• D) changes in a variable input with a given quantity of fixed inputs.
• E) changes in a fixed input with a given quantity of variable inputs.

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Definitions:

Statute of Frauds

A legal principle requiring certain contracts to be in writing and signed by the parties involved, ensuring enforceability.

Unconscionable

Refers to actions or terms in contracts that are so unfair or oppressive to one party that no reasonable or informed person would agree to them.

Contract Provision

A specific clause, term, or condition outlined within a contract that specifies obligations, rights, or restrictions.

Court

An institution that has the authority to make decisions on various types of disputes and legal matters, often comprising judges and following a set system of laws.