Which Is a Supply Plan with Existing Inputs

question 71

Multiple Choice

Which is a supply plan with existing inputs?

• A) an oil company's investment in new tar sands oil extraction technology.
• B) a baby-boomer's decision not to retire but keep working.
• C) a snow-removal business's decision to buy another plow to expand capacity.
• D) a shoe factory's plan to install new, improved robots in its factory in Manitoba.
• E) Toronto's plan to extend the subway system.

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Definitions:

Reasonable Market Value

An estimate of the price at which property would change hands between a willing buyer and a willing seller, neither being under any compulsion to buy or sell and both having reasonable knowledge of relevant facts.

Blackacre

A fictional name often used in legal documents or discussions to represent a hypothetical piece of real property.

Specific Performance

A legal remedy requiring a party to execute a contract according to its precise terms, typically applied in cases involving unique goods or property.

Compensatory Damages

Monetary compensation awarded to reimburse a plaintiff for actual losses suffered due to a defendant's wrongdoing.