Ralph Is a Professional Football Player

question 8

Multiple Choice

Ralph is a professional football player.He signs a valid contract with the Jets.Later,the Giants offer him more money,so he signs a contract with them.If the Jets sue Ralph,the most likely result would be?

• A) The court will order Ralph to play with the Jets.
• B) The court will order Ralph to play with the Jets, but Ralph is entitled to be paid the amount he negotiated under the Giants contract.
• C) The court will enjoin Ralph from playing with any team other than the Jets.
• D) The court will order Ralph to pay compensatory damages in the amount of the difference between the two contracts.

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Definitions:

Marginal Revenue

The additional revenue earned by a firm for selling one more unit of a good or service, crucial for decision-making on production levels.

Demand Schedule For Capital

A table or graph showing the amount of capital that businesses wish to invest at different possible rates of interest.

Marginal Revenue Product

Incremental revenue obtained from the use of one more unit of a production input, such as labor or capital.

Marginal Physical Product

The additional output resulting from using one more unit of a physical input, holding all other inputs constant.