Peri,a World Famous Musician and Composer,agrees to Give Ten Piano

question 33

Multiple Choice

Peri,a world famous musician and composer,agrees to give ten piano les?sons to Quinn in exchange for $1,000.Peri's attempt to transfer her contract duties to Roth,an in?experienced pianist,will probably be

• A)permitted because contracts may be freely delegated.
• B)permitted because the contract is concerned with music lessons.
• C)prohibited because contracts may not be freely delegated.
• D)prohibited because Peri and Roth have very different skill levels.

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Definitions:

Wealth of Nations

A seminal book by Adam Smith that examines how nations achieve wealth and economic growth.

Adam Smith

An 18th-century Scottish economist and philosopher, best known for his book "The Wealth of Nations," which lays the foundation for classical economics.

Equilibrium Price

The price at which the quantity of a good demanded by consumers equals the quantity supplied by producers, leading to market balance.

Equilibrium Quantity

The quantity of goods or services that is supplied and demanded at the equilibrium price.