Which of the Following Does NOT Shift the Supply Curve

question 491

Multiple Choice

Which of the following does NOT shift the supply curve?

• A) a technological advance
• B) a decrease in the wages of labor used in production of the good
• C) a fall in the price of a substitute in production
• D) an increase in the price of the good

Recognize how liquidated damage clauses are interpreted and enforced in contractual agreements.

Understand the principles of contract avoidance due to misrepresentation or fraud and its consequences.

Identify the scenarios where restitution as a remedy is applicable.

Comprehend the limitation and loss of the power to avoid contracts due to specific actions or inactions by the deceived party.

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Definitions:

Totten Trust

A form of revocable trust created by depositing funds in a bank account in the depositor's name as trustee for another, transferring the funds to the beneficiary upon the depositor's death.

Irrevocable

Refers to something that cannot be altered, canceled, or taken back once it has been established or issued.

Revokes

The act of officially cancelling or withdrawing an offer, license, right, or law.

Wholly Inconsistent

Completely incompatible or not in harmony with prior acts, statements, or legal precedents.