Divide the word cooperation into syllables
A) coop er a tion
B) co op er a tion
C) cooper a tion
D) co oper a tion
Answer: B
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Notions Corporation holds a dominant position in the market because of its superior line of products. In fact, it now controls 90 percent of the product market within the relevant geographic market
Consumers are willing to pay more for Notions' products despite the fact that a few competitors offer similar products at substantially lower prices. If a competitor were to charge Notions with being a monopolist under Section 2 of the Sherman Act, which of the following statements is true? A) The competitor's case would fail because a monopoly is defined as a firm having no competition. B) The competitor's case would fail unless it could show intent on the part of Notions to monopolize the market. C) The competitor's case would succeed because Notions controls 90 percent of the product market within the relevant geographic market. D) The competitor's case would succeed because Notions has attained both market power and overwhelming market share.
Francis signs an agreement with Sam on July 21, but four days later decides he made a bad deal
Which of the following, if true, will be a legal basis for Francis to get out of the contract? A) Both Sam and Francis are mistaken as to the subject matter of the contract. B) The consideration given up by Francis was twice the value of that given up by Sam. C) Sam breached a contract with Francis last year. D) He did not receive a fair price for the goods or services he sold in the contract.