Most States Have Statutes Requiring Which of the Following Contracts

question 40

Multiple Choice

Most states have statutes requiring which of the following contracts to be evidenced by a writing to be enforceable?

• A) Contracts to make wills.
• B) Contracts for the sale of securities.
• C) Contracts for the sale of personal property for more than $5,000.
• D) Contracts creating certain types of security interests.
• E) All of these.

---

Definitions:

Average Cost

The aggregate expense of manufacturing, when divided by the quantity of items made.

Marginal Costs

The price of generating one more unit of a product or service.

Marginal Productivity

The additional output generated by employing one more unit of a particular resource, while holding other inputs constant.

Returns to Scale

The rate at which production output increases in response to proportional increases in all inputs.