Jill Entered into a Contract to Supply TAFE with 800

question 4

Multiple Choice

Jill entered into a contract to supply TAFE with 800 light bulbs and 250 window blinds.On the final day for completion of the contract Jill had not supplied 32 bulbs and 25 blinds of the required 400.In terms of discharge of a contract,this is possibly an example of:

• A)attempted performance.
• B)a trivial variation.
• C)a substantial variation.
• D)substantial performance.

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Definitions:

Producer Surplus

The discrepancy between what sellers are prepared to accept for a product or service and the real price they get.

Equilibrium Price

The price at which the quantity of a good or service supplied matches the quantity demanded, leading to market stability where there is no excess supply or demand.

Producer Surplus

The inequality between the monetary expectations of producers for a good or service and the actual monetary outcome.

Wireless Mouse Market

The segment of the market that deals with the selling and purchasing of cordless mice, a common computer peripheral.