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Andrew appoints Matthew to be his agent for a period of 2 years. After 6 months, Andrew meets with an accident after which he permanently losses his capacity to understand things going on around him. This terminates the contract automatically. But Matthew is demanding damages for breach of contract. Is Andrew liable to pay damages?
Suppose the world price of lumber is above the Canadian price of lumber. What would be the impacts of free trade in lumber between Canada and the rest of the world? Use a diagram to show the impact on: Canadian price; Canadian consumption; Canadian p..
Truckco manufactures two types of trucks; the T1 and the T2. Each truck must go through the painting shop and the assembly shop. If the painting shop were completely devoted to the T1, 800 trucks could be painted in a day. The T1 contributes $300 in ..
q1. an electrical utility is experiencing a sharp power demand which continues to grow at a high rate in a certain
What are the advantages of E-Commerce? Name all the specific cyber issues that have necessitated new laws? Explain what the term “spontaneous order” means? Name all of the factors that, according to Lawrence Lessig, govern both real space and cybersp..
The inverse demand for a product is P(Q) = 100 − (1/2)Q. Production is associated with a marginal private cost, MCP(Q) = Q, and a constant marginal external cost, MCE = 25. What is the unregulated equilibrium? (Define in terms of price and quantity...
Explain how many will be hired Daily Demand for Workers in a Purely Competitive Labor also Product Markets.
Suppose the inverse demand for coal is estimated to be P = 75 - 0.6Q, where P is the price of coal and Q is the quantity demanded. The supply of coal is given by P = 0.3Q. Suppose coal mining produces an external marginal user cost. This cost equals ..
Enterprises conduct business transactions with other enterprises for a number of economic, business and strategic motivations.
Evaluate the Keynesian economists, besides John Maynard Keynes. Determine which economist you feel made the most significant contribution to economic theory. Justify your selection.
You have maxed out your $10,000 credit card, which is being charged 12.8% interest compounded daily. What is the minimum monthly payment to continue to break even? How much should you pay each week to get out of debt within one year?
what is the marginal utility of X? If a consumer moves downward along an indifference curve, what happens to the marginal utilities of X and Y? What happens to the MRS?
What are the four stages of the business cycle? In which stage do you believe the U.S economy is now? Why? What is the gross domestic product? What is its relationship to productivity? What are the effects of inflation on an economy? What are the eff..
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