Without Taking into Account Any Statements Made by Either the Salesperson

question 11

Multiple Choice

Without taking into account any statements made by either the salesperson or Ava regarding uses for the boat,what type of warranty did the seller make by merely selling the boat?

• A)The sale itself constituted both an express warranty and an implied warranty of merchantability but not an express warranty.
• B)The sale itself constituted an implied warranty of merchantability but not an express warranty or a warranty of fitness for a particular purpose.
• C)The sale itself constituted both an express warranty and a warranty of fitness for a particular purpose but not an implied warranty of merchantability.
• D)The sale itself constituted a warranty of fitness for a particular purpose but not an express warranty or an implied warranty of merchantability.
• E)The sale itself constituted an express warranty but not an implied warranty of merchantability or a warranty of fitness for a particular purpose.

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Definitions:

Homogeneous Oligopoly

A market structure in which a few firms offer identical or very similar products or services, leading to significant interdependence in decision-making.

Pure Monopoly

exists when a single firm is the sole provider of a product or service in a market, without any close substitutes, giving it substantial control over pricing.

Demand Schedule

An illustration that details the quantity of a commodity or service that individuals are eager and have the means to purchase at varying prices.

Profit-Maximizing

The process or strategy employed by firms to increase their profits to the highest possible level.