Which of the Following Is True Regarding Richard's Claim Regarding

question 55

Multiple Choice

Which of the following is true regarding Richard's claim regarding the inadequacy of house cleaning as consideration?

• A) Richard is correct because cleaning house would not constitute a benefit to the promisor.
• B) Richard is correct because cleaning house would not constitute a detriment to the promisee.
• C) Richard is correct because Denise had only promised - she had not actually performed.
• D) Although, contrary to Richard's assertion, house cleaning can be consideration, it was not in this case because his apartment was already fairly clean.
• E) Richard is incorrect because house cleaning would constitute consideration that would support a contract, and the court would not likely be concerned with the fact that the cleaning duties would be light.

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Definitions:

Maximize Profit

The process of increasing one's financial gain to the highest possible level given the constraints of the market.

Productivity

The efficiency with which input resources are converted into output, often measured as the ratio of output to input over a specific period.

Marginal Revenue Product Curve

A graphical representation showing how the additional revenue of a firm changes with the employment of an extra unit of input in the production process.

Factor of Production

Resources used in the production of goods and services, typically classified into land, labor, capital, and entrepreneurship.