An Expert Landscape Architect,known for Special Skill in Designing Japanese

question 1

True/False

An expert landscape architect,known for special skill in designing Japanese gardens,is engaged under contract by a municipality for the creation of a public park with a Japanese theme.The architect becomes unable to fulfil the obligation,but to the satisfaction of the municipality can name a replacement architect who will agree to execute the same work on the same terms.The legal mechanism required to effect this will be an equitable assignment.

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Definitions:

Marginal Revenue

The change in total revenue that results from the sale of 1 additional unit of a firm’s product; equal to the change in total revenue divided by the change in the quantity of the product sold.

Monopolistically Competitive

A market structure in which many companies sell products that are similar but not identical.

Product Differentiation

The marketing process of distinguishing a product or service from others in the market to make it more attractive to a particular target market.

Demand Curve

A graph representing the relationship between the price of a good and the quantity demanded by consumers.