Jack Is a Supplier of Whiskey

question 50

Multiple Choice

Jack is a supplier of whiskey.Daniel is a retailer of alcoholic beverages.Daniel orders a supply of whiskey from Jack.In which of the following instances has there not been a 'complete failure to perform' by Jack?

• A)Jack calls Daniel and informs Daniel that he will not be able to supply the whiskey.
• B)Jack delivers white wine instead of whiskey.
• C)Jack delivers the whiskey six hours after the stipulated time of delivery.
• D)Jack fails to deliver the whiskey and repeated calls by Daniel are not answered by Jack.

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Definitions:

Average Variable Cost

The total variable cost divided by the quantity of output, representing the variable cost of producing one additional unit.

Marginal Cost

The financial outlay for making an additional unit of a product or service.

Average Total Cost

The total cost divided by the number of goods produced; it includes all variable and fixed costs.

Average Variable Cost

The total variable cost divided by the quantity of output produced; it varies with production levels.