The Concepts of Unjust Enrichment and Restitution Are Part of the Gradually

question 14

Multiple Choice

The concepts of unjust enrichment and restitution are part of the gradually expanding development in the area of

• A)quasi tort.
• B)quasi contract.
• C)unconscionability.
• D)damages.
• E)substantial performance.

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Definitions:

Long Run

A period during which all factors of production and costs are variable, allowing firms to adjust to desired levels.

Gas Station

A retail establishment that sells fuel and often other goods or services to motor vehicle customers.

Long-Run Equilibrium

A state in which all firms in an industry are making normal profit and there is no incentive for market entry or exit.

Profit-Maximizing Price

The price point at which a business can sell its product or service to generate the maximum net profit.