In Kramer V

question 187

True/False

In Kramer v. ATW Axtell Tech, where Kramer bought Internet service equipment from ATW that did not work as well as advertised, the courts held that the award of "cover" expenses was not justified since all equipment "was off the shelf."

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Definitions:

Equilibrium Quantity

The amount of products or services available and sought after at the market's balance price.

Equilibrium Quantity

The quantity of goods or services supplied and demanded at the equilibrium price, where supply equals demand.

Excess Demand

A scenario in which the demand for a product or service surpasses the supply available at the existing price.

Surplus

An excess of production or supply over demand.