Jason's Mother Would Like Him to Go to College,so in June

question 18

Multiple Choice

Jason's mother would like him to go to college,so in June he enrolls at State University.He also quits his job and tells his mother his plans to continue taking classes.His mother says,"I'm so happy that you are going to college that I want to pay for your books." Jason then sends her a bill for $485.Which of the following is true regarding his mother's promise?

• A) It is enforceable,because Jason returned to college.
• B) It is enforceable,because Jason is giving up the right to do something else.
• C) It is unenforceable,because it is a unilateral contract.
• D) It is unenforceable,because Jason had already enrolled in school and there is no consideration.

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Definitions:

Monopoly

A market structure characterized by a single seller, selling a unique product in the market. In a monopoly market, the seller faces no competition, as he is the sole seller of goods with no close substitute.

Competitive

Pertaining to a market condition where multiple sellers are vying for the attention and business of buyers, often leading to better quality and prices.

Average Total Costs

The sum of all production expenses (both fixed and variable) divided by the total quantity of units created.

Per-Unit Costs

The cost associated with producing or acquiring a single unit of a product or service.