Case 4 Paul Is Buying a Computer, and Realizes That

question 68

Multiple Choice

Case 4 Paul is buying a computer, and realizes that in addition to the technical considerations, he needs to consider the display technology. He also needs to buy storage devices. Which storage device would be best to store graphics that are large files and for use with word processing files when Paul works from both home and work?

• A) CD-RW
• B) Floppy disk
• C) Hard disk
• D) USB flash drive

Recognize the impact of fraudulent, negligent, or innocent misrepresentation on contractual agreements and the associated remedies.

Understand how the power of avoidance in a contract can be lost and the legal effects.

Identify the circumstances under which specific performance and injunctions might be awarded.

Know the legal consequences of failing to perform contractual obligations as agreed.

---

Definitions:

Purely Competitive Firm

A company operating in a market where there are many buyers and sellers, the products are homogeneous, and there are no barriers to entry or exit.

Average Revenue

The revenue a company generates per unit of output sold, calculated by dividing total revenue by the number of units sold.

Perfectly Elastic Demand Curve

A demand curve with infinite elasticity, where consumers are willing to purchase any amount of a product at a certain price, but none at any slightly higher price.

Output

Refers to the total amount of goods or services produced by an individual, firm, or country within a specific period.