Which of the Following Will Be Adequate Consideration for the Sale

question 31

Multiple Choice

Which of the following will be adequate consideration for the sale of a laptop?

• A)A vague promise
• B)Past consideration
• C)Completion of a prior legal obligation
• D)Ten cents

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Definitions:

Monopoly Outcome

The result of a market condition in which a single company or entity has exclusive control over a particular good or service, leading to limited competition.

Duopoly

A market structure dominated by two firms, often leading to strategic competition and pricing.

Maximize Profits

Strategies and actions taken by businesses to increase the difference between their total revenues and total costs.

Individual Profits

The net earnings obtained by a person after subtracting all relevant expenses from their revenue.