MATCHING: -The Authority on Trust Law in Most States

question 21

Multiple Choice

MATCHING:
-The authority on trust law in most states

• A)legal title
• B)cestui que trust
• C)equitable title
• D)testamentary trust
• E)trust agreement
• F)principal
• G)income
• H)Restatement of the American Law of Trusts
• I)Uniform Trust Code
• J)parol evidence

---

Definitions:

Marginal Revenue

The additional income received from selling one extra unit of a product or service.

Fixed Costs

Costs that do not vary with the level of production or sales, such as rent, salaries, and insurance premiums.

Profit-Maximizing

A strategy firms adopt aiming to produce the quantity of goods or services that leads to the highest possible profit.

Average Variable Cost

The variable cost per unit of output, calculated by dividing total variable costs by the quantity of output produced.