Answer:
If Holt and Collins retain the right to a Class action.
Explanation:
Arbitration is a method of resolving disputes outside of court. The Parties involved in the case refer their disputes to an arbitrator who will making a decision after reviewing the evidence and listening to the parties.
Arbitration clauses can be mandatory or voluntary, and the arbitrator's decision may be binding or nonbinding. (binding means you are not going to court again, but would abide by the decisions if the arbitrator).
Furthermore, the Arbitration is a legal technique used by the parties involved in a dispute to resolve the disputes outside the courts, the parties refer the disputes to one or more persons called either the "arbitrators", "arbiters" or "arbitral tribunal", by whose decision (the "award") they agree to be bound.
Then A "class action" lawsuit or the
"mass tort litigation" is one in which a group of people with the same or similar injuries caused by the same product or action sue the defendant as a group. It can also be called the "multi-district litigation".
If Holt and Collins decide to retain the right to a Class action, it will definitely not be the result of an arbitration.
Answer:
B. A business gives its employees a raise, so it cannot afford to buy any TV ads.
Explanation:
Opportunity cost also known as the alternative forgone, can be defined as the value, profit or benefits given up by an individual or organization in order to choose or acquire something deemed significant at the time.
Simply stated, it is the cost of not enjoying the benefits, profits or value associated with the alternative forgone or best alternative choice available.
For instance, if you decide to invest resources such as money in a paying your employees (workers), your opportunity cost would be the benefits like increased sales you could have earned if you had invested the same amount of resources in advertising your business.
Hence, the situation which best illustrates the economic concept of opportunity is when, a business gives its employees a raise, so it cannot afford to buy any TV ads.
Sole Power? Thats all that I can think of
