After a Contract Is Made,a Supervening Event May Make Performance

question 13

True/False

After a contract is made,a supervening event may make performance impossible in an objective sense.

---

Definitions:

Marginal Decision Rule

An economic principle which suggests that action should continue until marginal benefit equals marginal cost, optimizing resource allocation.

Downward-Sloping Demand

A representation of the relationship between the price of a good and the quantity demanded, illustrating that as price decreases, demand typically increases.

Number Of Firms

The total count of business entities operating within a specific market or industry.

Price Taker

A market participant that accepts prevailing prices as given, having no influence to alter the price of a good or service.