Examlex

Solved

While in Her Third Year at the NewAge School of Music

question 36

True/False

While in her third year at the NewAge School of Music in Seattle,Washington,Carolynn had a chance to borrow and use for one month,a rare Gladavostok violin played by Thomas Jefferson,and made in 1768.She returned the violin to the owner in Seattle,but telephoned her father in Austin,Texas to ask if he would buy it for her.He borrowed money from his pension fund and paid for the violin.Carolynn had exclusive possession of the violin for the next 20 years,using it in her professional career.Unfortunately,she became an alcoholic,and during one period when she was in a treatment center,she entrusted the violin to her mother for safekeeping and collateral to pay for healthcare expenses.After 3 years in treatment,Ann was released and requested return of the violin,but her mother refused.Ann owns the violin because it was a gift causa mortis from her father.


Definitions:

Football Stadium

A large venue designed to host football games along with a wide range of sports and entertainment events.

Consumer Surplus

The variance between a consumer's willingness to pay for a service or product and the actual amount paid for it.

Cotton T-shirts

Garments made from the soft fibers of the cotton plant, noted for their comfort and breathability.

Producer Surplus II

The difference between the amount a producer is willing to accept for a good versus what they actually receive.

Related Questions