Economies of scale occur when ________
A) increasing production lowers the average cost of each unit produced
B) increasing production increases the average cost of each unit produced
C) decreasing production lowers the average cost of each unit produced
D) decreasing production increases the average cost of each unit
E) increasing production increases the fixed cost of doing business
A
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Performance obligations are distinct if:
A. The seller regularly sells the good or service separately. B. A buyer could use the good or service on its own. C. A buyer could use the good or service in combination with goods or services the buyer could obtain elsewhere. D. All of the other answers is correct
If a party to a contract lacks the capacity to contract, the contract is:
a. void in all circumstances. b. void or voidable, depending on the kind of incapacity involved. c. voidable in all circumstances. d. enforceable nevertheless, since a contract is, by definition, a binding agreement.