Which of the Following Is Not a Likely Reason Why

question 184

Multiple Choice

Which of the following is not a likely reason why a small business in a free enterprise system should seek the ideal combination of price charged and quantity supplied?

• A) To maintain goodwill among customers
• B) To maximize profits
• C) To avoid surpluses and shortages
• D) To avoid government regulation
• E) To discourage competition

---

Definitions:

Promissory Estoppel

A legal principle that prevents a party from going back on a promise, even if it was not formally agreed to in a contract, if someone else has relied on that promise to their detriment.

Tort of Deceit

A legal cause of action that arises when one party intentionally lies or misrepresents a material fact with the intent to deceive another, causing harm.

Guarantor

An individual or entity that agrees to be responsible for another's debt or performance under a contract, should the primary party fail to meet its obligations.

Principal Debtor

The main individual or entity responsible for repaying a debt or obligation.