Indranee Purchases a Plasma Flat-Screen Television at a Sale

question 26

Multiple Choice

Indranee purchases a plasma flat-screen television at a sale.She is given an 80% discount off the original selling price and is informed that the television was a display set and had been on display for more than a year.When she returns home, she discovers that the television does not work.Which of the following statements is correct?

• A)The television is not of merchantable quality because of the discount.
• B)The television is not of merchantable quality despite the discount.
• C)The television is not required to be of merchantable quality because of the discount.
• D)The television is not required to be of merchantable quality because the sale of goods legislation does not apply to the transaction.

Describe how discrimination and inefficiencies impact labor markets and economic outcomes.

Recognize the importance of innovation, education, and investment in driving economic growth.

Discuss the real-world applications of economic theories in historical contexts and contemporary policy decisions.

Understand the concept of current liabilities and how they are managed within a financial context.

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Definitions:

Marginal Revenue

The additional income generated from the sale of one more unit of a product or service.

Total Product

The overall quantity of goods or services produced by a firm within a specific period.

Average Variable Costs

The total variable costs of production divided by the quantity of output produced.

Workers

Individuals engaged in any form of employment, contributing labor for the production of goods or services.