Under an Antilapse Clause, an Insurance Policy Will Not Lapse

question 59

True/False

Under an antilapse clause, an insurance policy will not lapse under any circumstances.

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Definitions:

ATC

Average Total Cost is determined by dividing the total production expense by the output quantity.

Perfectly Competitive Firm

A firm that operates in a market where there are many buyers and sellers, the products are homogeneous, and no single buyer or seller can influence the market price.

Marginal Revenue

The additional income generated from selling one more unit of a product is known as marginal revenue.

Marginal Cost

The financial impact of producing an extra unit of a product or service.