Solve the Problem $0.25$ C Assuming This Is the Actual Price, How Many Ice

question 84

Multiple Choice

Solve the problem.
-A coupon advertises ice cream cones for $0.25$ c. Assuming this is the actual price, how many ice cream cones can you get for $\$ 8$ ?

• A) 32,000
• B) 320
• C) 3200
• D) 32

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Definitions:

Option Contract

A legal agreement in which a buyer has the right but not the obligation to buy or sell an asset at a pre-agreed price within a specified period.

Promissory Estoppel

A legal doctrine prohibiting someone from revoking a guarantee given to another individual if the latter has sensibly counted on such guarantee to their disadvantage.

Consideration

Something of value promised to another when making a contract.

Unilateral Contract

An agreement in which only one party makes a promise to perform in exchange for an act by the other party.