You Innocently Have Made Some Misstatements That Others Are Relying

question 63

Multiple Choice

You innocently have made some misstatements that others are relying on.Legally speaking,you can change your situation from innocent misrepresentation into one of fraudulent or negligent misrepresentation by

• A)doing nothing when you learn about the truth.
• B)immediately trying to set things right.
• C)trying to mitigate the situation.
• D)filing a writ of claims with the court.
• E)letting the other party know you were in error.

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Definitions:

Absolute Values

A measure representing the magnitude of a number regardless of its direction or sign, shown as the distance from zero on a number line.

Favorite Bundle

An individual consumer's most preferred combination of goods and services, given their budget and prices.

Indifference Curve

A graph showing different combinations of two goods among which a consumer is indifferent, depicting levels of consumption where the consumer has no preference for one bundle over another.

Absolute Values

Mathematical values expressed without regard to their sign; distances from zero on the real number line.