Authors Are Allowed to Be Monopolists in the Sale of Their

question 650

Multiple Choice

Authors are allowed to be monopolists in the sale of their books in order to

• A)encourage authors to write more and better books.
• B)correct for the negative externalities that the Internet and television impose.
• C)satisfy literary advocacy groups that exercise their lobbying power.
• D)promote a society in which people think for themselves and learn from whichever books they please.

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Definitions:

Implied Ratification

The acceptance or approval of a previously unauthorized act by behaving in a manner that acknowledges the act as authorized.

Express Ratification

Formal approval or confirmation of an act or agreement, usually explicitly and often in writing, making it officially valid.

Misrepresentation

The act of giving a false or misleading statement about a material fact, often leading to a breach of contract.

Disaffirm

To legally reject or void a previously agreed upon contract or agreement, especially by minors.