If a Product Is Sold "As Is

question 75

Multiple Choice

If a product is sold "as is"

• A)it is covered by neither express nor implied warranties.
• B)it is not covered by an express warranty,but is covered by an implied warranty.
• C)it is not covered by an implied warranty,but can still be covered by an express warranty.
• D)it can still be covered by both express and implied warranties.

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Definitions:

Assistant's Salary

The compensation paid to an assistant, which typically includes wages or salaries for clerical, support, or administrative roles.

Fixed Factors

Inputs or resources in the production process that cannot be easily increased or decreased in the short term, such as buildings and land.

Long Run

A period in which all inputs, including capital, are variable, allowing firms to adjust all factors of production.

Economic Costs

The comprehensive expense incurred from selecting one option over another, covering both direct and indirect costs.