In Determining Whether a Mistake of Fact Occurred,what of the Following

question 22

Multiple Choice

In determining whether a mistake of fact occurred,what of the following is true?

• A)Courts look to determine whether a mistake of fact occurred when an advertisement was made.
• B)Courts look to determine whether a mistake of fact occurred at the time the contract was concluded.
• C)Courts look to determine whether a mistake of fact occurred after the contract was concluded.
• D)Courts look to determine whether a mistake of fact occurred during contract negotiations.
• E)Courts look to determine whether a mistake of fact occurred when the initial offer was made.

---

Definitions:

Marginal Decision Rule

A principle stating that an action should be taken if and only if the marginal benefits exceed the marginal costs.

ATC

Average Total Cost, which represents the total cost per unit of output, calculated by dividing the total cost by the quantity of output produced.

MR

Stands for Marginal Revenue, which is the additional income earned from selling one more unit of a good or service.

Economic Profit

The difference between a firm's total revenues and its total costs, including both explicit costs and opportunity costs.