Which of the Following Is an Advantage of a Will

question 14

Multiple Choice

Which of the following is an advantage of a will?

• A)It allows a person to leave property to someone who would not be entitled to inherit under intestate succession.
• B)The probate of a will is generally quick,easy,and inexpensive.
• C)It retains privacy and confidentiality about the decedent's property and beneficiaries.
• D)It eliminates complicated procedures.

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Definitions:

Marginal Cost

The monetary cost of manufacturing one more unit of a good or service.

Average Total Cost

The total cost of production divided by the number of goods produced, representing the cost per unit of output.

Product Variety

The range of different products or services offered by a company or available in a market, catering to diverse customer tastes and needs.

Allocative Efficiency

A state of the economy in which production represents consumer preferences; in particular, every good or service is produced up to the point where the last unit provides a marginal benefit to society equal to the marginal cost of producing it.