True or False 1, All contracts must be in writing in order to be enforceable
2, Assuming there is a valid offer and acceptance, a promise to pay a nickel in exchange for a car would serve as consideration
3, Promissory estoppel means that there was a valid contract that the courts will enforce.
4, I'll sell you my car for $10,000 is most likely an example of an offer.
5, You hire an unlicensed plumber to do some handyman work in your house such as hanging pictures and mounting your big screen. Because the plumber is unlicensed, you are not required to pay him
6, The Mailbox Rule says that termination is effective when received
7, Common law has an exception to the battle of forms which allows for acceptance terms to differ from the offer
8, Even if you cannot meet all of the elements of a contract, in special circumstances, courts may still find that there was an enforceable agreement
9. A requirements contract requires the manufacturer to sell all that it produces to the buyer.
10, One person's joke can be deemed a valid offer if it looks like an offer to a reasonable person

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Table 1. shows the expected demand for the dvd at different suggested donation levels, and they can act as a single-price monopolist if they choose to. thereceipts will be used to fund gstcg supplies for their data collection and conservation work. at the end of each sea turtle nesting season, any excess funds are donated by the gstcg to a local non-profit sea turtle research and rehabilitation facility. table 1 suggested anticipated total marginal profit donation per number of dvd revenue revenue dvd request requests $19.00 0 $15.00 2 $9.50 4 $7.75 10 $3.00 15 $0.00 20 a. complete table 1 by computing the total revenue, marginal revenue, and profit columns. b. the president wants the gstcg to provide videos to generate the most possible donations (total revenue). what price, if any, is the president of the gstcg favoring and how many people will receive the dvd if this becomes the price of the suggested donation? explain your answer. c. the education outreach committee wants the gstcg to provide videos to the highest possible number of people. what price, if any, is the educational outreach committee favoring and how many people will receive the dvd if this becomes the price of the suggested donation? explain your answer. d. the treasurer of the gstcg wants the dvd program to be as efficient as possible so that the marginal revenue equals marginal cost. what price, if any, is the treasurer favoring and how many people will receive the dvd if this becomes the price of the suggested donation? explain your answer. e. the fundraising committee wants the dvd program to generate as much profit in donations as possible. what price, if any, is the fundraising committee favoring and how many people will receive the dvd if this becomes the price of the suggested donation? explain your answer.

Which of the following will not cause the consumption schedule to shift? a) a sharp increase in the amount of wealth held by households b) a change in consumer incomes c) the expectation of a recession d) a growing expectation that consumer durables will be in short supply