A Contract Contains the Provision,"Walter Hamilton Promises to Pay Faye

question 56

Multiple Choice

A contract contains the provision,"Walter Hamilton promises to pay Faye Weeks $1,600 for a 2012 V-6 motor provided that Phelps' Garage approves the quality of the motor." This provision:

• A) makes the contract unenforceable since Walter's promise is illusory.
• B) creates an express condition which must be met before Walter's duty to pay arises.
• C) cannot create an express condition because it lacks the necessary words "on condition that."
• D) is not valid since it makes Walter's duty to pay dependent upon the opinion of a third party.

Comprehend the role of external variables in controlling and shaping behavior.

Understand the differences between shaping and respondent behavior.

Recognize the concepts of operant conditioning and its techniques, including successive approximation and self-administering satiation.

Identify and evaluate therapeutic applications derived from Skinner's research.

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Definitions:

Fixed Cost

Costs that remain constant regardless of the amount of goods produced or sold, including rent, wages, and insurance premiums.

Sunk Cost

Costs that have already been incurred and cannot be recovered or refunded, and should not influence future business decisions.

Average Fixed Cost

The cost incurred for fixed inputs (rent, salaries) divided by the quantity of output produced, which decreases as production increases.

Variable Cost

Costs that vary directly with the level of production or output, such as materials and labor, in contrast to fixed costs.