If the Price of Pepsi-Cola Increases from 50 Cents to 60

question 92

Multiple Choice

If the price of Pepsi-Cola increases from 50 cents to 60 cents per can and the quantity demanded decreases from 100 cans to 50 cans, then the demand for Pepsi-Cola is

• A)unit elastic
• B)perfectly elastic
• C)perfectly inelastic
• D)relatively elastic
• E)relatively inelastic

Recognize the legal outcomes and remedies available when a contract is frustrated by external circumstances.

Analyze the legal effectiveness and limitations of exemption clauses within a contract.

Comprehend the legal handling of deposits and liquidated damages in the context of contract law.

Understand novation and the requirements for its validity, including the substitution of parties in a contract.

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