Which of the Following Is a Valid Consideration

question 1

Multiple Choice

Which of the following is a valid consideration?

• A)a promise to complete additional work under a construction contract for more money
• B)a promise to pay someone $400 if he agrees to stop smoking for a year
• C)a promise to pay an unliquidated debt for less than the full amount
• D)all of the above

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Definitions:

Large Firms

Enterprises or corporations that operate on a large scale, typically having significant market power, resources, and complex organizational structures.

Scale of Production

Refers to the size of the operation or the volume of output produced by a business or manufacturing plant.

Average Total Cost

Average Total Cost is the total cost of production divided by the total quantity produced, representing the per unit cost of production.

Returns to Scale

The change in output as a result of proportionately changing all inputs in the production process.