Which of the Following Is One of the Remedies Generally

question 160

Multiple Choice

Which of the following is one of the remedies generally available for a breach of contract?

• A)specific performance
• B)punitive damages
• C)anticipatory breach
• D)novation
• E)repudiation

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Definitions:

Price-Taker Markets

Markets in which individual sellers or buyers cannot affect the market price due to their small size relative to the market as a whole.

Market Price

The actual selling price of goods or services available in the marketplace at any given time.

Marginal Revenue

Marginal revenue is the additional income earned from selling one more unit of a good or service.

Marginal Cost

The change in total cost that arises when the quantity produced changes by one unit; essentially the cost of producing one additional unit of a good or service.