Figure 3.4.1 -Refer to Figure 3.4.1 Above. the Consumer Chooses a on a on Budget

question 121

Multiple Choice

Figure 3.4.1
-Refer to Figure 3.4.1 above. The consumer chooses A on budget line I1 and B on budget line I2. Which of the following statements is NOT true?

• A) B is preferred to C.
• B) A is preferred to B.
• C) C is preferred to A.
• D) All of the statements are correct.

---

Definitions:

Sales Contract

A legally binding agreement between buyer and seller detailing the terms and conditions of the sale of goods or services.

Fraudulent Misrepresentation

A false statement made knowingly, without belief in its truth, or recklessly, with the intention to deceive others and induce them into a contract.

Unilateral Mistake

A situation in contract law where only one party is mistaken about a fundamental aspect of the contract, which under certain conditions, may lead to the contract being voided.

Elements

Fundamental components or aspects that constitute the essential characteristics of something.