A Free Good Is

question 3

Multiple Choice

A free good is:

• A) also a scarce good.
• B) a relatively abundant good.
• C) a good with no opportunity cost.
• D) a good with relatively low opportunity cost.

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Definitions:

Defame

To damage someone's reputation through false or unjustified statements.

Preexisting Obligation

An obligation that already exists before a certain action is taken or an agreement is made, often relevant in contract law.

Under Seal

denotes a formal legal process or document that has been officially sealed, indicating confidentiality or authenticity.

Substituting a New Contract

Replacing an existing contract with a new one, which extinguishes the obligations under the original contract.