Represents the marginal gain in objective value

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1. A minor has a right to disaffirm a contract even if the minor lied about his or her age. True or False?

2. When you go into a store and make a purchase, it is generally based on conditions concurrent. True or False?

3. By deed, the bland family donated 50 acres of land to the city for the use of a park upon condition that the park be used for whites only and if this ever ceased to be the use, the property would revert back to the family. this provision in the deed is a condtion subsequent. True or False?

4. Which of the following represents the marginal gain in the objective value that would occur if one more unit of a resource were added?

Reduced cost

Shadow price

Allowable increase

Allowable decrease

Constraint

5. If found to be a usurious loan, the contract for the loan is unenforceable in its entirety. True or False?

6. Which of the following best represents what is going on in the Define Phase?

1. Looking for the causes of the problem and verify suspected root causes

2. Creating the problem statement, especially in terms of customer-critical demands

3. Identify actions to reduce defects and variation caused by root causes and implement selected actions while evaluating the measurable improvement

4. Assemble measurable data about process performance and develop a quantitative problem statement

Reference no: EM132258660

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