Answer: d. ratifies it.
Bianca, a minor, enters into a contract to buy two all-season passes from Chalet Ski Park. The contract will be made enforceable if, after reaching the age of majority, Bianca
a. disaffirms it.
b. voids it.
c. nullifies it.
d. ratifies it.
Economics
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With respect to the labor supply curve, the income effect
A) reinforces the substitution effect. B) lowers the opportunity cost of labor. C) raises the opportunity cost of labor. D) influences a person to work less as the wage rate increases.
Economics
A firm is concerned about the possibility of patent infringement and has hired an attorney to review patents. If the attorney is reviewing 100 patents and the marginal cost of reviewing the 100th patent is $40 and the expected marginal benefit of reviewing the 100th patent is $45, which of the following is true?
A) The firm's total cost of infringement will decrease if the number of patents reviewed decreases. B) The firm is minimizing the total cost of infringement. C) The firm's total cost of infringement will increase if the number of patents reviewed increases. D) The firm's total cost of infringement will decrease if the number of patents reviewed increases.
Economics
Which of the following is a source of market failure?
A. Private goods. B. Government intervention. C. Market power. D. None of the choices are correct.
Economics
Refer to the information provided in Table 3.1 below to answer the question(s) that follow. Table 3.1Price per PizzaQuantity Demanded (Pizzas per Month)Quantity Supplied (Pizzas per Month)$31,200 600 61,000 700 9 800 80012 600 90015 4001,000Refer to Table 3.1. If the price per pizza is $6, there is an excess
A. demand of 300 pizzas. B. supply of 1,000 pizzas. C. supply of 700 pizzas. D. demand of 600 pizzas.
Economics