Which of the Following Is True Regarding Tam's Claim That

question 39

Multiple Choice

Which of the following is true regarding Tam's claim that by selling the communications book for a higher price,Ezra breached the contract he had with her?

• A)Tam is correct.
• B)Tam is incorrect because the amount she agreed to pay was significantly less than the fair market value of the book and,therefore,did not amount to consideration.
• C)Tam is correct only if she can establish that she had prior dealings with Ezra.
• D)Tam is correct only if she can establish that she had provided past consideration in addition to the amount she agreed to pay for the book.
• E)Tam is incorrect because her acceptance was illusory.

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Definitions:

Monopolist

A single seller in a market who has significant control over the price and supply of a particular good or service, facing no competition.

Constant Unit Cost

The situation where the cost to produce each additional unit of output remains unchanged.

Inverse Demand Curve

A graphical representation showing the relationship between the price of a good and the quantity demanded, plotted with price on the y-axis and quantity on the x-axis, inversely.

Cartel

An agreement among competing firms to control prices, production, and distribution of goods, often to restrict competition and maximize profits.