Kathy and Tom have entered into a contract in which Mike has been named and included as an intended beneficiary by Kathy. Should Tom or Kathy breach the contract, Mike may sue both Tom and Kathy for breach of contract. True/False

This is "TRUE"

Explanation: Mike may sue both Tom and Kathy if their breach the contract, because he has the legal right to do so. Mike is a beneficiary to their contract agreement, this means that Mike is part of the contract agreement.

Mike can only sue Tom for equity damage if Tom breach the contract, because Mike being the named beneficiary, is just a third party agreement with Tom. Mike can also sue Kathy because Kathy has entered an agreement with him, when he made him his Beneficiary, so he can also sue Kathy for equity damage.

TRUE.

Explanation: A contract can be defined as an agreement which the law will enforce in some way. A legally binding contract must contain at least a commitment or offer, by an offeror to and accepted by an offeree to do something in the future.

A breach of contract in legal terms can be said to be an unjustifiable failure to perform under the terms of a contract when performance is due. This can be said to be a civil wrong which in any case can be sued for.

In the question, Kathy and Tom( the offeror) have entered into a contract with Mike (the offeree), assuming there's a breach of contract, which is a civil wrong, then Mike has every right to sue. Correct answer is TRUE.

marginal cost is a microeconomic measure that us to evaluate the extent to which the level of production of a good is sustainable in accounting, that is, to how many quantities the company plans to profit from the production of the good.

the concept of marginal cost is simple, it means the cost of producing one more item. for example, in the case of pies, the marginal cost is the cost of producing one more pie than those that have already been produced.

it is important to understand that productive activity influences marginal cost. the marginal cost of some goods can be very high, while others may be insignificant. for example, the marginal cost of producing an extra plane is very high. already the marginal cost of a water company to provide 1l more water is derisory.

in the case of pies, the cost involves the inputs, the labor and the fixed cost, which involves the fixed space of the bakery. the level of production initially has the marginal cost decreasing because there is space and manpower available. however, to produce more you have to hire more workers and buy more inputs. if physical space is limited, workers will conflict with places, inputs and their productivity will decrease, meaning there is an optimum point of production for each level of space and manpower. from this point on, the productivity of the workers will be getting smaller because of lack of space, so that the marginal cost of producing one more pie will be increasing. so, although you have not posted the chart, but if you have the answer, you can see that my explanation goes according to the marginal cost curve that will increase from the 4th pie, answer (c).