Which of the Following Occurs When the Promisor Indicates Before

question 87

Multiple Choice

Which of the following occurs when the promisor indicates before the time for his performance that he is unwilling or unable to carry out the contract?

• A)Anticipatory repudiation
• B)Waiver
• C)Estoppel
• D)Accord and satisfaction

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Definitions:

Short Run

A period in economic analysis where at least one factor of production is fixed, limiting adjustments to changes in demand or supply.

Long Run

A period in economics sufficient for all markets to reach equilibrium, where all inputs and outputs can be varied by firms, not constrained by existing physical capital.

ATC

Average Total Cost; the total cost per unit of output incurred when producing goods or services.