Jay Farnswood Is the President of a Local Group of Real

question 34

Multiple Choice

Jay Farnswood is the president of a local group of real estate agents.At their monthly luncheon meeting,Farnswood stood and told his colleagues that he simply could not survive by charging the 5 percent commission rate and noted,"I don't know what the rest of you are going to do,but I am going to charge 6 percent commission on all my listings starting today." Farnswood's statements:

• A)constitute price fixing.
• B)only reflect his intentions; there is no agreement to fix prices.
• C)constitute an attempt to monopolize.
• D)none of the above

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Definitions:

Impossible

Refers to something that cannot be done or achieved within the existing conditions or limits.

Hasty Generalization

A logical fallacy where a conclusion is not logically justified by sufficient or unbiased evidence, typically involving conclusions drawn from an inadequate sample size.

Fallacy

A mistake in the process of reasoning that makes an argument flawed or not logically correct.

General Proposition

A statement or assertion that expresses a concept or principle applying broadly across many instances or situations.