An Increase in Quantity Supplied Might Be Caused by an Increase

question 170

True/False

An increase in quantity supplied might be caused by an increase in production costs.

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Definitions:

Misrepresentation

A false statement of fact made by one party to another party, which has the effect of inducing that party into a contract.

Undue Influence

The situation in which one person has taken advantage of his or her dominant position in a relationship to persuade the other person unduly to the extent that the dominant person’s persuasive efforts have interfered with the other person’s ability to make his or her own decision.

Fraudulent Misrepresentation

An intentional false statement of a material fact made by one party to induce another party to enter into a contract.

Duress

Any unlawful act or threat exercised on a person whereby the person is forced to enter into an agreement or to perform some other act against his or her will.