[Weeds] Cecelia Developed a Product Guaranteed to Immediately Kill Weeds

question 70

Multiple Choice

[Weeds] Cecelia developed a product guaranteed to immediately kill weeds, but will absolutely not kill any other type of grass or shrub. She has encountered several individuals and businesses in other countries who would like to enter into contracts with her and market her products internationally. She consulted with Willie, who just graduated law school and has yet to pass the bar, and asked him for advice regarding those contracts. Willie proceeded to tell her that she should simply enter into the same type of contract with international businesses and individuals from other countries as she would if those individuals and businesses were located in the United States. He tells her that if there is any problem, then they will simply have to come to the United States to settle the matter, and that any issues would be determined in Cecelia's home county, in her home state, and under her state's law. He also mentions to her that she should consider contacting local foreign officials in the areas in which she would like her product sold and suggest to them that she can contribute heavily to election campaigns if she is allowed, without any trouble, to obtain necessary business licenses and approvals to do business.
-If Cecelia does not take Willie at his word and wants additional assurance that her state's law would be applied, what should she do?

• A) There is nothing she can do.
• B) She should insert a forum selection clause in the contract.
• C) She should insert a choice-of-law clause in the contract.
• D) She should insert a Hague evidence clause in the contract.
• E) She should insert a GATT clause into the contract.

Differentiate between short-run and long-run elasticity in various markets.

Comprehend the effects of fixed and variable resources on market supply and demand.

Recognize the role of cross elasticity of demand in assessing the relationship between goods.

Understand the implications of income elasticity of demand on consumer buying behavior.

---

Definitions:

Blood Vessels

Blood vessels are the part of the circulatory system that transports blood throughout the human body, including arteries, veins, and capillaries.

Metabolism

The set of life-sustaining chemical reactions in organisms that allow them to grow, reproduce, maintain their structures, and respond to their environments.

Acclimatization

The process by which an organism adjusts to a gradual change in its environment, allowing it to maintain performance across a range of environmental conditions.

Seasonal Changes

Variations in environmental conditions, such as temperature and day length, that occur at regular intervals throughout the year.