The Marginal Benefit Curve Is

question 318

Multiple Choice

The marginal benefit curve is

• A) upsloping because of increasing marginal opportunity costs.
• B) upsloping because successive units of a specific product yield less and less extra benefit.
• C) downsloping because of increasing marginal opportunity costs.
• D) downsloping because successive units of a specific product yield less and less extra benefit.

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Definitions:

Survivorship

Survivorship is a legal principle referring to the right of a surviving joint owner to inherit a shared property in its entirety upon the death of the other joint owner(s).

Escheat

The reversion of land to the Crown when a person possessed of the fee dies intestate and without heirs.

Fee Simple

The most complete ownership in property available, giving the holder full control over the land and the buildings upon it.

Riparian Water Rights

Legal entitlements related to the ownership of land alongside rivers and streams, governing the use of water resources.