An Advertisement for Pete's Peanut Butter Centers on the Perception

question 110

Multiple Choice

An advertisement for Pete's Peanut Butter centers on the perception that peanut butter has a high fat content.It goes on to state that Pete's Peanut Butter is a rich source of protein and fiber and also has a great taste.The ad closes by stating that Pete's Peanut Butter contains less fat than most other peanut butter brands in the market.This is an example of a

• A)confrontational appeal.
• B)recency appeal.
• C)nonverbal message.
• D)refutational appeal.
• E)one-sided message.

Understand the "main purpose" rule in guarantee contracts and its implications for contract enforceability.

Recognize exceptions to the Statute of Frauds that allow for the enforceability of oral contracts.

Understand the role of memorandums or notes in evidencing oral contracts and their requirements.

Understand the impact of third-party benefits in contract law, including when an agreement is enforceable by or for the benefit of a third party.

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Definitions:

Unit Elastic

Unit elastic describes a situation in which the percentage change in quantity demanded is equal to the percentage change in price, resulting in no overall revenue change for the supplier.

Income Elasticity

A measure of how much the demand for a product or service changes with a change in the consumer's income.

Quantity Demanded

Quantity demanded is the total amount of goods or services that consumers are willing and able to purchase at a given price point, during a specified period.

Consumption

The expenditure by individuals on durable goods, nondurable goods, and services; represented by C.