Joss Is a Marketing Consultant

question 258

Multiple Choice

Joss is a marketing consultant.Iris and Daphne are potential customers interested in commissioning Joss to undertake a market survey and compile the findings in a report.Iris is willing to pay $500 for the service while Daphne is willing to pay $800.Suppose that the opportunity cost of Joss's time is $1,200.Assume that Iris and Daphne do not know each other.If the price of the report is $800 per copy,

• A)both Iris and Daphne will purchase Joss's services and Joss will undertake the job.
• B)only Daphne will purchase Joss's services and Joss will undertake the job for her.
• C)only Daphne will want to purchase Joss's services but Joss will not be willing to do the work.
• D)neither Iris nor Daphne will commission the work.

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Definitions:

Constitutionality

The quality or condition of being in accordance with a political constitution, especially pertaining to the legality of actions or statutes.

Uniform Probate Code

A set of laws intended to harmonize and simplify the process of probating wills and administering estates across the states that adopt it.

Contest a Will

A legal challenge made against the validity of a will by a potential heir or beneficiary.