A Professor Tells a Student That If She Writes a 5,000

question 69

Multiple Choice

A professor tells a student that if she writes a 5,000 word paper on the evils of plagiarism by May 13^th,he will pay the student $750.00.

• A) the offer is for a unilateral contract
• B) if the student gives the paper to the professor on May 14^th, the money is owed because the student came close and did get the paper done
• C) this contract is only enforceable if it's in writing
• D) this contract is only enforceable if the student verbally or in writing accepts the offer prior to beginning the paper

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Definitions:

Productively Efficient

A situation where goods or services are produced at the lowest possible cost, maximizing the allocation of resources.

Opportunity Cost

The drawback of dismissing the next superior alternative during the decision process.

Real-Life Situations

Scenarios or events that occur outside theoretical or simulated environments, involving genuine contexts and conditions.

Economists

Professionals who study, develop, and apply theories and concepts from economics and write about economic policy.