Amanda Buys a Ruby for $240 for Which She Was

question 170

Multiple Choice

Amanda buys a ruby for $240 for which she was willing to pay $340. The minimum acceptable price to the seller, Tony, was $190. Amanda experiences

• A)a consumer surplus of $580, and Tony experiences a producer surplus of $200.
• B)a consumer surplus of $100, and Tony experiences a consumer surplus of $150.
• C)a producer surplus of $200, and Tony experiences a consumer surplus of $100.
• D)a consumer surplus of $100, and Tony experiences a producer surplus of $50.
• E)a producer surplus of $100, and Tony experiences a consumer surplus of $190.

Understand the principles of the implied warranty of habitability and quiet enjoyment.

Identify legal exceptions and limitations of exculpatory clauses in lease agreements.

Understand the legal distinctions between subleases and assignments.

Recognize the importance of written agreements for leases exceeding one year.

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Definitions:

Direct Worker Actions

Collective activities undertaken by workers, such as strikes or work-to-rule, to exert pressure on employers during labor disputes.

Ludlow Massacre

An event in 1914 where a labor conflict between miners and the Colorado National Guard led to the death of numerous strikers and their families.

Union Recognition

The formal acknowledgment by an employer that a labor union represents the collective interests of its workers, often followed by collective bargaining.

Better Wages

An improvement in the compensation that workers receive for their labor, often a key objective of labor unions and worker advocacy groups.