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Table 11.1
-Refer to Table 11.1,which shows the product price of a perfectly competitive firm and the output produced by the firm.The marginal revenue product of the third machine is _____
Quasi-Contract
The doctrine by which courts imply, as a matter of law, a promise to pay the reasonable value of goods or services when the party receiving such goods or services has knowingly done so under circumstances that make it unfair to retain them without paying for them.
Express Promise
is a clear and explicit commitment or assurance given by one party to another, typically in a contractual context.
Unilateral Contract
A contract formed by an offer or a promise on one side for an act to be done on the other, and a doing of the act by the other by way of acceptance of the offer or promise; that is, a contract wherein the only acceptance of the offer that is necessary is the performance of the act.
Enforceable
Capable of being imposed or executed legally or by authority.
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