Ratification and Adoption of Contracts Have the Same Effect;they Are

question 53

True/False

Ratification and adoption of contracts have the same effect;they are both retroactive and both release the purported agent.

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Definitions:

Cournot Output Choice

A model in economic theory where firms choose their output levels assuming competitors' outputs are fixed, aiming to maximize their own profit.

Pure Strategy Equilibrium

A concept in game theory where each player's chosen strategy provides the best outcome, given the strategies chosen by other players.

Nash Equilibrium

A situation in a strategic game where each player has chosen a strategy and no player can benefit by changing strategies while the other players keep theirs unchanged.

Mixed Strategy

A game theory strategy where a player chooses between all possible actions at specified probabilities.