Ida Intentionally Mislabels Her Product in Order to Increase Sales

question 27

Multiple Choice

Ida intentionally mislabels her product in order to increase sales.Jay,a consumer,buys Ida's product.In using it,Jay suffers an injury.To recover for the injury on the basis of the misrepresentation,Jay must

• A)assume the risk of the misrepresentation.
• B)ignore the misrepresentation.
• C)not be influenced by the misrepresentation .
• D)rely on the misrepresentation.

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Definitions:

Opportunity Cost

The value of the next best alternative forgone as a result of making a decision.

Comparative Advantage

The ability for a particular individual, commercial entity, or country to produce a certain good or render a service with significantly less opportunity cost compared to opposition.

Domestic Opportunity Costs

The cost of forgoing the next best alternative use of a country's domestic resources.

Capital-Intensive

A type of industry or business that requires large amounts of capital investment in comparison to labor to produce goods or services.