Which of the Following Is NOT True About How a Breach

question 16

Multiple Choice

Which of the following is NOT true about how a breach may occur?

• A)Jack may breach the contract by acting in a manner that makes his promise impossible to perform.
• B)Jack may breach a contract by expressly repudiating his liabilities.
• C)Jack may breach a contract by calling James and advising him that he will be ten minutes late in arriving at the home of James to start painting the home.
• D)Jack may breach a contract by tendering an actual performance that falls short of his promise.
• E)Jack may breach a contract by failing to perform all his obligations.

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Definitions:

Marginal Product

The additional output generated by employing one more unit of a specific factor of production, keeping other factors constant.

Perfectly Competitive

A market structure where there are many sellers and buyers, products are homogeneous, and there is free entry and exit, leading to efficient outcomes and zero economic profits in the long run.

Corn Farmer

An individual or entity engaged in the cultivation of corn as a crop for various uses, such as food, feed, and biofuel.

Marginal Cost

The cost of producing one additional unit of a product, a key concept in economic theory that helps firms optimize production and pricing strategies.