Gooey Flakes Is the Only Ready-To-Eat Cereal That Has Chocolate

question 61

Multiple Choice

Gooey Flakes is the only ready-to-eat cereal that has chocolate syrup in each flake.The machine that injects the syrup into the flakes has no alternative uses.Which of the following is true?

• A)All of the machine's earnings are economic rent.
• B)All of the machine's earnings are opportunity cost.
• C)The supply curve for this machine is horizontal.
• D)The demand curve for this machine is horizontal.
• E)The demand curve for this machine is vertical.

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Definitions:

Intentional Interference

An act or practice intending to disrupt or hinder the rights, property, or business interests of another party.

Intentional Torts

Wrongful acts committed with the intention of causing harm to another, such as assault, battery, and defamation.

Negligence

The failure to exercise the level of care that someone of ordinary prudence would have exercised under the same circumstances, often leading to harm or damage.

Nominal Damages

A small amount of money awarded to a plaintiff in a lawsuit to recognize a legal right was violated, without substantial loss or damage occurring.