The Most Common Way to Terminate Contractual Duties Is by

question 30

Multiple Choice

The most common way to terminate contractual duties is by

• A)agreement.
• B)repudiation.
• C)failure of a condition.
• D)performance.

---

Definitions:

Price Effect

The impact on consumer demand and producer behavior due to a change in the price of a good or service, holding other factors constant.

Quantity Effect

The impact on total revenue when the quantity sold changes while holding price constant.

Total Revenue

The total amount of money generated from the sale of goods or services before any costs or expenses are deducted.

Price Elasticity

The extent to which the amount of a good that is sought after moves due to a difference in price.