Wendell Can Sell Five Motor Homes Per Week at a Price

question 189

Multiple Choice

Wendell can sell five motor homes per week at a price of $22,000.If he lowers the price of motor homes to $20,000 per week he will sell six motor homes.What is the marginal revenue of the sixth motor home?

• A)$10,000
• B)$12,000
• C)$20,000
• D)$22,000

Distinguish between different types of contracts and their implications on risk of loss and delivery obligations.

Interpret how risk of loss is determined and managed in sales transactions.

Evaluate the legal outcomes of non-conforming goods and the options available to buyers and sellers.

Comprehend the role and impact of negotiable and non-negotiable documents of title in goods transactions.

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Definitions:

Voidable

A term referring to a contract or transaction that remains valid until one party decides to cancel or nullify it due to certain legal defenses.

Minor

An individual under the legal age of adulthood, which varies by jurisdiction but is commonly 18.

Contract

A legally binding agreement between two or more parties that outlines obligations and rights.

Mistake Of Fact

A mistake of fact refers to a misunderstanding or incorrect belief about a fact relevant to a contract or a legal proceeding, affecting the decisions made by the parties involved.