The Term Palimony Was Coined to Describe

question 90

Multiple Choice

The term palimony was coined to describe:

• A) engagements lasting more than two years.
• B) sexual intercourse between close relatives.
• C) settlements made to an nonmarried live-in partner.
• D) the tendency to marry people with opposite characteristics.

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Definitions:

Deadweight Loss

A reduction in economic effectiveness that happens when a good or service does not reach or cannot reach equilibrium.

Monopolist

A single seller in a market who has significant control over the price and supply of a product.

Marginal Cost

The variation in the overall expense that occurs as a result of increasing the production quantity by one unit.

Consumer Surplus

The benefit consumers receive when they pay less for a product than what they were prepared to pay, measured by the area beneath the demand curve and above the price.