Which of the Following Are Required to Obtain a Prescriptive

question 61

Multiple Choice

Which of the following are required to obtain a prescriptive easement?

• A) use be open
• B) use be notorious
• C) use be visible
• D) use be adverse
• E) all of the above
• F) (a), (c), and (d) above

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Definitions:

Negative Profits

A financial condition also known as losses, occurring when a company's expenses exceed its revenues.

Profit-Maximizing

The strategic process used by businesses to determine the price and output level that generates the most profit.

Demand

The quantity of a good or service that consumers are willing and able to purchase at various prices during a specified period of time.

Long Run

A period in which all factors of production and costs are variable, allowing firms to adjust to meet changes in the market.