S Agrees to Sell B 10,000 Widgets at a Price

question 19

Multiple Choice

S agrees to sell B 10,000 widgets at a price of $1.00 per widget.After B breaches the contract,S resells the widgets for $0.90 per widget.However,this costs S an additional $100 in sales commissions.S saved $200 in shipping costs as the new customer was located closer to its factory.What amount can S recover from B?

• A) $900
• B) $100
• C) $1,100
• D) $1,000

Comprehend factors influencing team performance beyond member motivation and skills.

Appreciate the significance of social interaction in group dynamics.

Understand the role of leadership in fostering commitment to task objectives and strategies.

Analyze the impact of member diversity on team performance.

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Definitions:

Equilibrium Quantity

The amount of products or services available and sought after at the balance price within a marketplace.

Opportunity Cost

Opportunity cost is the loss of potential gain from other alternatives when one alternative is chosen.

Consumer Surplus

The separation between the total amount consumers are equipped and willing to pay for a good or service and what is effectively paid.

Total Surplus

The sum of consumer and producer surplus, reflecting the total benefit to society from the production and consumption of goods and services.