Resourced Minerals Inc

question 34

Multiple Choice

Resourced Minerals Inc.agrees to deliver ten tons of coal to Static Energy Corporation.The agreement states that delivery is to be within "9" days, although the parties intend "90" days.Resourced Minerals cannot convince Static Energy to amend the contract.Resourced Minerals should seek

• A)damages.
• B)reformation.
• C)rescission.
• D)specific performance.

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Definitions:

Capacity

The maximum output that a company can produce under normal conditions over a given period of time.

Marginal Costs

The uplift in total financial outlay required for the making of another unit of a product or service.

Cournot Duopolists

Firms in a market where only two producers exist and compete under the Cournot assumption, where each firm decides its production level assuming the output of its competitor is fixed.

Demand for Wine

The total quantity of wine that consumers are willing and able to purchase at various prices within a specific time period.