Which of the Following Is True

question 48

Multiple Choice

Which of the following is true?

• A) A novation occurs when the parties to a contract agree to terminate it and substitute a new contract.
• B) A novation occurs where one party leaves a contract and his or her place is taken by another person.
• C) A novation occurs where parties to a contract change the subject matter of a contract.
• D) C only
• E) A, B, & C

Identify the characteristics and challenges of expatriate management.

Analyze the concept of the glass ceiling and its effects on gender equality in the workplace.

Explain the significance of corporate social responsibility and its expectations from stakeholders.

Analyze Adam Smith’s doctrine of natural liberty and its ethical implications.

---

Definitions:

Monopolistic Competitor

A firm in a market structure where many companies sell products that are similar but not identical.

Short Run

A period of time in economics during which at least one input is fixed and cannot be changed by businesses.

Average Total Cost

It is the total cost divided by the number of goods produced, encompassing both fixed and variable costs.

Monopolistic Competitor

A firm operating in a market structure characterized by many producers selling similar but not identical products, leading to some degree of market power and pricing authority.