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Assume you ordered two Bose speakers for your home theater system from Sound Technologies, Inc. in New York. Sound Technologies shipped the speakers to you via UPS, C.O.D. (collect on delivery). You did not agree to a C.O.D. shipment of the speakers. When the speakers arrived, you refused to accept them because you were not able to inspect them before payment. Sound Technologies claimed that it had shipped conforming goods and that you breached the contract.
Discuss your liability in this situation, and explain whether under the UCC you have a right to reject the shipment. Why or why not?
Analyze whether you think you should have a legal and moral obligation to pay for the shipment.
Now assume you accepted the goods and send the payment by way of e-money. Explain the laws that would apply to e-money transactions and the online banking services for the bank you conduct business with in your home state.
A monopolist faces a market demand curve given by: Q = 70 – P. This monopolist charges a single price for its output. If the monopolist can produce at constant average and marginal costs of AC = MC = 6, the monopolist’s profits are equal to what numb..
Suppose an economy has four sectors, Agriculture (A), Energy (E), Manufacturing (M), and Transportation (T). Sector A sells 10% of its output to E and 25% to M and retains the rest. Construct the exchange table for this economy. [M] Find a set of equ..
From your personal experience, discuss a situation you have faced that would require one of the six elements of moral judgment. Identify the element of moral judgment you chose and justify your response.
In the medical care sector, the decisions of what services should be produced, how they should be produced, how they should be distributed, and how to allow for growth and innovation must be made. What combination of non-medical and medical goods and..
What are the main goods and services the United States traded internationally? What trade barriers were in place during that decade? What are two pros and two cons of the trade barriers used?
As World War II came to an end, world leaders met at Bretton Woods, New Hampshire in 1944 to establish an international monetary system. The system established pegged the U.S. dollar to gold at $35.00 an ounce and pegged the other currencies of the d..
Some firms with monopoly power are more focused on market share, size and influence in the economy. This is particularly true if there is a tendency for ownership (stockholders) and control (managers) to be separated.
Suppose the value of technology adoption to a given user is log(n) where n is the total number of users who have already adopted the technology. Suppose the cost of technology adoption per user is c. Assume there are N users in the market.
Assume that the inflation rates in 2010, 2011, and 2012 were 1%, 2%, and 3% respectively. During the same periods, nominal interest rates were 5%, 5%, and 6%, respectively. What are the ex-post real interest rates in 2010, 2011, and 2012?
As soon as she graduated with an engineering degree and started working, Jamie bought a car for $40,000. A down payment of $10,000 was paid by her dad as graduation gift. The rest of the amount was financed with Generous Motors at 3% nominal interest..
The NFL wants to give the "common fan" the opportunity to attend the Super Bowl, Illustrate what is the equilibrium price also quantity.
Major restructuring plan in an attempt to reverse declining global sales. Suppose that as part of the restructuring plan Mitsubishi conducts an analysis of how labor and capital are used in its production process. Prior to restructuring Mitsubishi’s ..
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