Which of the Following Is NOT One of the Factors

question 16

Multiple Choice

Which of the following is NOT one of the factors used to determine if a seller has created an express warranty?

• A) The seller makes an affirmation of fact or a promise regarding the goods.
• B) The seller provides a description of the goods.
• C) The seller provides a model or sample of the goods.
• D) The buyer relies on the seller's affirmations or promises.

---

Definitions:

Monopoly

A market structure characterized by a single seller who has exclusive control over the supply of a good or service.

Perfect Price Discrimination

Occurs when a firm charges the maximum amount that buyers are willing to pay for each unit.

Consumer Surplus

The contrast between the summed value consumers intend and can afford to pay for a product or service and the actual cost they bear.

Deadweight Loss

The loss of economic efficiency that occurs when the equilibrium for a good or a service is not achieved or is unattainable.