Guthrie Caterers Failed to Turn Up as Contracted to Cater

question 24

True/False

Guthrie Caterers failed to turn up as contracted to cater Dev and Rabinda's wedding reception. The deposit, which was the only money paid to that point, was returned by courier the next morning without comment. This was an implied repudiation since they did not contact Dev and Rabinda and actually tell them "We will not be catering your wedding."

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Definitions:

Graphing Calculator

An electronic device capable of plotting graphs, solving simultaneous equations, and performing other tasks with variables.

Consumer Surplus

Consumer surplus is the difference between the total amount that consumers are willing to pay for a good or service and the total amount they actually pay, indicating the benefit consumers receive from purchasing at a market price lower than their maximum willingness to pay.

Ice Cream Cones

Frozen dessert treats served in a conical wafer, typically made by filling the cone with scoops of ice cream from one or more flavors.

Consumer Surplus

The difference between what consumers are willing to pay for a good or service and what they actually pay, representing a measure of consumer benefit.