Rose and Caradoc Were Romantically Involved for Several Years

question 38

Multiple Choice

Rose and Caradoc were romantically involved for several years.During that time, she gave a necklace to him.The couple then had a terrible fight and broke up.Because he no longer wanted anything to do with Rose, Caradoc threw the necklace into a garbage can that was located in the main hall of a railway station.That station is owned by the Regional Transport Authority (RTA) , but members of the public are always welcome.Francis saw the necklace in the garbage and took it home with him.All four parties (Francis, Rose, Caradoc, and the RTA) now claim the right to possession of the necklace.Which of the following statements is most likely TRUE?

• A)Rose is entitled to the necklace as long as she paid for it initially.
• B)Francis is entitled to the necklace as long as he intended to exercise control over it.
• C)RTA is entitled to the necklace as long as the garbage can was located on its property.
• D)Caradoc is entitled to the necklace as long as he has honestly changed his mind and truly does want possession of it.
• E)The necklace is co-owned by two of the parties.

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Definitions:

Marginal Benefit

Additional value or satisfaction obtained by consuming an extra unit of a good or service.

Utility-Maximizing Rule

A principle in economics that states individuals allocate their resources to maximize their utility or satisfaction.

MU/P Ratio

The marginal utility per unit of cost ratio, used in economic theory to analyze consumer choice behavior.

Marginal Utility

The additional contentment or value received by using one more unit of a good or service.