Jack Goes to Fast Copy Center and Pays to Have

question 5

Multiple Choice

Jack goes to Fast Copy Center and pays to have 40 copies of a textbook made.Jack then sells the photocopied versions of the book to fellow students for $60 a copy (as opposed to the $95 textbook price) .The textbook author learns of this and sues Jack and the copy center.Which statement is correct?

• A) Jack and the copy center are both liable to the author.
• B) Jack is liable to the author but the copy center is not.
• C) The copy center is liable to the author but Jack is not.
• D) Neither the copy center nor Jack is liable to the author.

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Definitions:

Normal Rate

Typically refers to a benchmark interest rate considered to be standard based on historical averages, often used by central banks.

Market Period

The short timeframe in which the supply of a good is fixed, typically because production cannot be adjusted quickly in response to changes in demand.

Dog Kennels

Structures or shelters for housing dogs, can be residential for private use or commercial for boarding.

Opportunity Cost

Opportunity cost represents the benefits an individual, investor, or business misses out on when choosing one alternative over another.