If an Official in a State Certifies That They Personally

question 39

Multiple Choice

If an official in a state certifies that they personally witnessed the signing of a deed by the parties and the parties produced evidence of who they say they are, this is known as ________.

• A) acknowledgement
• B) certification
• C) notarization
• D) authorization
• E) presence

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Definitions:

Total Surplus

The sum of consumer and producer surplus, representing the total net benefit to society from the production and consumption of goods or services.

AC

Short for Alternating Current, a type of electrical current where the flow of electric charge periodically reverses direction.

MC

Marginal Cost, the increase in total cost that arises from producing one additional unit of a product or service.

Natural Monopoly

A type of monopoly that arises due to high fixed or start-up costs associated with a business which makes it impractical for more than one firm to produce the same product or service efficiently.