Already have an account? Get multiple benefits of using own account!
Login in your account..!
Remember me
Don't have an account? Create your account in less than a minutes,
Forgot password? how can I recover my password now!
Enter right registered email to receive password!
Consider the following two cases of contract modification: In Recker v. Gustafson (279 N.W.2d 744, 1979), the Reckers agreed to pay the Gustafsons $290,000 for a farm. Prior to closing, however, the Gustafsons demanded an additional $10,000 after informing the Reckers that they were "willing to go to court to get out of the [original] agreement and that litigation was expensive." The Reckers agreed to the price increase but later sued to have it refunded, claiming coercion.
In Blakeslee et al. v. Board of Water Com'rs of City of Hartford (139 A. 106, 1927), the plaintiff sought and obtained a price increase when the cost of building a dam rose unexpectedly due to the diversion of workers and materials at the outbreak of WW I. The city later sued to have the original price reinstated.
(a) Did the promisors offer new consideration in support of the requested price increase in either of these cases?
(b) Does economic theory provide any basis for distinguishing between the two cases? Explain.
Would this have been the result of a change in demand or a change in the quantity demanded? Would you recommend the flat fee or the fee per bag? Why?
QD = 140,000- 25,000P QS = 20,000 + 75,000P, where Q = daily sales in 6 packs of beer, and P = price per 6 pack. The city has hired you to provide the following information regarding the beer market and the proposed tax.
Suppose that a firm comtemplating entering the market for breakfast cereal would need to invest $100 million in a production plant (or about $10 million annually on an amortized basis). Such a plant could produce about 100 million pounds of cereal..
Ajax, Inc. is a monopolist. The estimated demand function for its product is Qd = 120 - 0.8P + 12Y + 4A Where Qd denotes quantity demanded, P denotes price, Y denotes personal income (in thousands of dollars), and A denotes advertising expenditures
A monopsonist's demand curve for labor is given by w = 12 - 2L, where w is the hourly wage rate and L is the number of person-hours hired. a. If the monopsonist's supply (AFC) curve is given by w = 2L, which gives rise to a marginal factor cost cur..
A monopolist has two types of customers. There are 100 of type A, who will each pay up to $10 for a single unit of goods, and 50 of type B, who will each pay up to $8. Neither is willing to purchase additional units at any price. If it must charge..
A student borrowed $5,000 which she will repay in 30 equal monthlyinstallments. After her 25th payment she desires to pay theremainder of the long in a single payment. At 15% interestcompounded monthly, what is the amount of the payment.
The 2003 Zagat Restaurant Survey provides food, décor, and service ratings for some of the top restaurants across the United States. For 15 top-ranked restaurants located in New York, the average price of a dinner including, one drink and tip, wa..
How can we develop more accurate estimates early during the product life cycle when funds typically are programmed and expectations set?
A firm's total revenue is given by; TR= 30Q-Q^2 Its total cost function is given by TC= Q^2+10Q+10 a.find the profit maximizing output b.what price will the firm charge to maximize its profits
Is it true that you cannot have too much of a good thing?
The new extruder will increase the company's annual income by $90,000. Maintenance and operating costs are expected to be $4,000 during the first year and to increase by $1,200 each year. XYZ uses a MARR of 12% for its preliminary economic studies..
Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!
whatsapp: +1-415-670-9521
Phone: +1-415-670-9521
Email: [email protected]
All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd