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Linda and Ralph moved to a large farm they recently purchased.The couple wish to subdivide some of the land and sell a lot.They contracted a local surveyor who completed the survey of the perspective lot to be severed.After the deal had been completed and the lot sold,the couple were confronted by the new lot owner,and a neighbour of the farmer.They produced an older deed showing the newly severed lot belonged to the neighbour's farm and did not belong to Linda and Ralph's.With the threat of legal action looming,the couple confronted the surveyor who told them they cannot sue him because he is an unlicensed professionaland is free from any responsibility for the services he renders.
Marginal Benefit
The added utility or pleasure that comes from the consumption of one more unit of a good or service.
Marginal Cost
The escalation in aggregate cost linked to the fabrication of an extra item of a good or service.
Free Products
Products that are provided to consumers without monetary charge, often used as a business strategy to attract users or customers.
Firms
Businesses or enterprises that engage in commercial, industrial, or professional activities, whether for profit or not.
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