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Nina owns a used car lot. She signs and sends a fax to Seth, a used car wholesaler who has a huge lot of cars in the same city. The fax says,"Confirming our agrmt-I pick any 15 cars fr yr lot-30% below blue book." Seth reads the fax, laughs, and throws it away. Two weeks later, Nina arrives and demands to purchase 15 of Seth's cars. Is he obligated to sell?
After the first course in biology or chemistry, many decide to major in something other that the natural sciences. which of the 12 principles is at work here?
Because there isn't one single measure of inflation, the government and researchers use a variety of methods to get the most balanced picture of how prices fluctuate in the economy. Two of the most commonly used price indexes are the consumer price i..
Illustrate what is the meaning of economies of scope and explain how do they differ from economies of scale.
These investors seek unlimited access to investment consultants and are willing to pay up to $10,000 annually for no fee-based transactions.
A semiprofessional baseball team near your town plays two home games each month at the local baseball park. The team splits the concessions 50/50 with the city but keeps all the revenue from ticket sales. Fill in the blanks The team earns $....... in..
What is one cited reason why healthcare expenditures are so high in the United States? Behavioral economics studies how __________ influences the decision-making process. What is one cited reason why healthcare expenditures are so high in the United ..
What is the optimal production quantity for the card - Los Angeles, Santa Monica, Hollywood, and Pasadena. Based on past data, the number of customers from each of the four regions is normally distributed with mean 4,700 and standard deviation 700.
We know that Keynes and Minsky both had a multipoint description of the trade, or business, cycle with Minsky being more detailed than Keynes. Using Keynes' elements of the trade cycle as major bullet points, as-sign Minsky's elements of the business..
Do injured parties acting ethically when y promise to keep quiet know Illustrate what can happen to hundreds of unsuspecting consumers.
Consider an environment where an agent could be either employed E or unemployed U. Let’s normalize E + U = 1, so that E and U are interpreted as the fraction of people employed and unemployed at any given point in time, respectively. What is the prob..
Suppose a monopolist has cost curve C(q) = 10 + 3q + 0.1q 2 and faces demand q = 12 ? p. Find the monopolist price and quantity. Return to the situation in (a) with only one market. What would be the monopolist profit?
How does Toyota’s approach to social responsibility relate to the three concepts of social responsibility described in the text (profit responsibility, stakeholder responsibility, and social responsibility?
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