When a Buyer Assigns the Right to Goods Under a Contract

question 6

Multiple Choice

When a buyer assigns the right to goods under a contract, the buyer's liability to make payment to the seller is:

• A) transferred to the third party.
• B) terminated.
• C) still in effect.
• D) shared equally with the third party.

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Definitions:

Monopolist

An entity with exclusive control over the supply of a particular good or service, setting prices without competition.

Pure Monopolist

A market structure where a single firm completely dominates the market, with no close substitutes for its product, allowing it to control prices.

Discriminating

The act of making a distinction or differentiating between items, people, or situations, often based on specific criteria.

Price Discrimination

A pricing strategy where a seller charges different prices for the same product or service to different consumers, based on their willingness to pay.