Refer to the Information Provided in Figure 7

question 79

Multiple Choice

Refer to the information provided in Figure 7.1 below to answer the following question(s) . Figure 7.1
-Refer to Figure 7.1. A corn producer's total revenue is $1,000. If she sells each bushel of corn for $5, she must be selling ________ bushels of corn.

• A) 200
• B) 450
• C) 900
• D) 4,500

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Definitions:

Preexisting Duty Rule

A principle in contract law that holds an existing duty does not constitute consideration for a new promise.

Unforeseen Circumstances

Events or conditions that could not have been reasonably anticipated and that may affect the performance of contractual obligations.

Ethical

Pertaining to or dealing with morals, the principles of morality concerning right and wrong or good and bad behavior.

Illusory Promise

A statement that appears to be a promise but is too vague or lacks commitment to be legally binding and enforceable as a contract.