A Creditor Beneficiary

question 7

Multiple Choice

A creditor beneficiary:

• A) has rights against both the promisee and the promisor.
• B) is the promisor in a performance that satisfies a legal duty.
• C) acquires no rights under a contract and therefore cannot sue for nonperformance.
• D) is the promisee who owes a legal duty to a third party.

Understand firm shutdown conditions and the role of fixed and variable costs.

Comprehend the concept and calculation of short-run profits and losses in competitive markets.

Identify the conditions under which firms will earn zero, positive, or negative economic profits.

Recognize the significance of the market supply curve and its relation to individual firm supply in a competitive market.

---

Definitions:

Qui Gong

A traditional Chinese practice combining movement, meditation, and controlled breathing to enhance physical and mental well-being.

Ovo-lacto-vegetarian

A person who does not consume meat but includes eggs and dairy products in their diet.

Lacto-vegetarian

A vegetarian diet that includes dairy products in addition to plant-based foods.

Vegan

A dietary choice to avoid all animal products and by-products for health, environmental, or ethical reasons.