Specific Performance Involves a Court Order to Do Something (To

question 103

Multiple Choice

Specific performance involves a court order to do something (to perform the contract) , whereas a(n) ________ usually involves an order to refrain from some offensive conduct.

• A) injunction
• B) damages award
• C) equitable remedy
• D) quantum meruit award
• E) limitation period

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Definitions:

Marginal Cost

The uptick in cumulative expenses that comes from producing an additional unit of a product or service.

Total Revenue

The total receipts from sales of a given quantity of goods or services.

Marginal Revenue

The supplementary financial gain obtained through the sale of one more unit of a good or service.

Profit

The financial gain obtained when the amount earned from a business activity exceeds the expenses, costs, and taxes.