In Order for a Deed to Be Effective,it Must Contain

question 77

Multiple Choice

In order for a deed to be effective,it must contain all of the following except:

• A) a description of the land.
• B) a description of the consideration.
• C) the signature of the grantor.
• D) language conveying title.

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Definitions:

Perfect Competition

Perfect competition describes a market structure where competition is at its greatest possible level, with numerous firms, no barriers to entry, and price taking behavior.

MR < MC

A scenario where marginal revenue is less than marginal cost, suggesting it is not profitable to produce additional units.

Marginal Cost

A measurement of the cost incurred by producing one additional unit of a product or service.

Average Variable Cost

The per-unit cost that varies, calculated through the division of total variable costs by the quantity of products made.