All of the Following Contracts Would Be Illegal, and Not

question 13

Multiple Choice

All of the following contracts would be illegal, and not binding on the parties, except

• A) a contract whereby one person agrees to spread false and damaging information about another.
• B) a contract whereby one person agrees to sell a banned substance (e.g., cocaine) to another.
• C) the act of paying for sexual favours (prostitution).
• D) a contract between camera dealers whereby they agree not to sell a specific model of camera below a specified price.
• E) a contract in which a lawyer agrees to represent an accused where the accused did commit the crime.

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Definitions:

Total Product

The total quantity of output produced by a firm using various inputs during a given period.

Marginal Product

The additional output that is generated by increasing the input of a single factor of production by one unit, while holding other factors constant.

Bushels

A unit of volume that is used primarily in the United States to measure agricultural commodities.

Total Product

The overall amount of output produced by a firm over a given period of time.