The following graph shows the output per day with different numbers of workers (labor).   With how many workers do we see the marginal physical product of labor become negative?      

How would you describe the price elasticity of demand at prices below $100?    

Paula includes a clause in her lease agreement with Raúl that says if he fails to pay rent in the future, he must move out of her apartment immediately. This is an example of which of the following?

Which type of contract is formed when the behaviors of the parties show an intent to enter into an agreement even if no explicit contractual offer and acceptance exist?

Which of the following is true regarding amending a contract already in place?

A party’s contractual obligations may be discharged through any of the following except for what?

In which of the following contractual circumstances would Paul fail to provide valid consideration?

Janie agreed to buy a used iPhone 8 from Mick for $1,400. Later, she realizes she overpaid for the phone and could have bought a brand new Phone 16 for about $1,000. Janie the demands Mick refund her the $1,400 because he clearly sold her the phone for way more than it was worth. Which of the following is the most likely result if Janie sues Mick alleging breach of contract?

Someone who purchases stolen goods but did not know that they were stolen before he purchased them now has which of the following types of title to the goods?

In January, Penelope agrees to sell 100 pounds of sugar to Vito at a set price with the sale set to take place in June. In March, Penelope discovers there is a major sugar shortage that would require her to pay her supplier five times more than expected if she fulfilled her contract with Vito which means she would lose money if she then resold the sugar to Vito at their predetermined price. She tells Vito in April, two months before the sale is supposed to take place, that she will not sell him the sugar. Can Vito immediately sue Penelope for breach of contract in April before the scheduled June sale date actually passes?