Chandra Is an Invalid And,therefore,she Cannot Put Her Signature on Her

question 32

Multiple Choice

Chandra is an invalid and,therefore,she cannot put her signature on her will.Her friend Nina signs the will for her.When Nina signs on behalf of Chandra,there is no one else in the house.Is the will valid?

• A)Yes,since Chandra was present during the time the will was signed.
• B)No,since she did not date it.
• C)Yes,since she is presumed to be mentally competent.
• D)No,since there were no witnesses present during the signing of the will.

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Definitions:

Production Isoquant

A curve that represents all combinations of inputs that produce the same level of output, used in the analysis of production technology.

Marginal Products

The additional output that is produced by using one more unit of a particular input, holding other inputs constant, critical in the analysis of production efficiency.

Profitability

A measure of the efficiency with which a company or a business utilizes its resources to generate profits.

Production Set

A set of all possible combinations of inputs and outputs that a firm can produce taking into account its technology.