The Table Below Illustrates That,in One Day,Tristan Can Produce Either

question 68

Multiple Choice

The table below illustrates that,in one day,Tristan can produce either 12 fishing lures or mow 3 lawns,while Thomas can produce either 6 fishing lures or mow 6 lawns. $$\begin{array} { | l | c | c | } \hline & \text { Fishing Lures } & \text { Mowed Lawns } \\\hline \text { Tristan } & 12 & 3 \\\hline \text { Thomas } & 6 & 6 \\\hline\end{array}$$ TABLE 1- 1
-Suppose there are only two goods produced in our economy-snowplows and helicopters.If there is always a two- for- one tradeoff between the production of these two goods (in terms of opportunity cost) ,then the production possibilities boundary between snowplows and helicopters is

• A)a downward- sloping straight line with slope equal to - 1.
• B)a downward- sloping curve concave to the origin.
• C)a downward- sloping curve convex to the origin.
• D)a downward- sloping straight line.
• E)circular.

Understand the circumstances under which a contract might be considered void due to mistakes.

Identify the legal remedies available when a contract is entered into on the basis of misrepresentation, undue influence, or duress.

Differentiate between statutory and equitable assignments in contract law.

Comprehend the privity of contract rule and its exceptions.

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