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Seller in Bombay sells 5,000 bales of cotton to Buyer, C & F (Inco-terms 2010) Liverpool. Seller transports the cotton to the Bombay harbor and to the ship designated by the Buyer, the SS Allthumbs. Due to an error in counting, only 4,987 bales were loaded. The ship’s bill of lading shows a quantity of 5,000 bales. Seller then signs over the bill of lading to Buyer in exchange for payment in full for the cotton. When the Allthumbs arrives in Liverpool, the quantity error is discovered, and Buyer sues the ship for the lost value of the missing bales. Is the ship liable? Would it matter if Seller admitted that the error was not the ship’s fault, but that of Seller?
Suppose the market for fish (a normal good) in the U.S. is in equilibrium. Then suppose that the workers in the fishing industry successfully negotiate for a higher wage, while at the same time average household incomes in the U.S. increase dramatic..
Suppose a wage increase from $11 to $13 an hour increases the number of job applicants from 42 to 56. What is the price elasticity of labor supply?
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Given the production function between nurse hours and patient visits per day to a community clinic, how will each of the following shift this function? A change inures remuneration from salary to fee for service. A change in the case mix of patients,..
The United States has an absolute advantage in making many goods, such as short-sleeve cotton golf shirts. Why do Cost a Rica and Bangladesh make these shirts and export them to the United States?
Under the pure signaling model, the social benefit associated with education is
Identify a PLC company that uses strategic management - this company may be prosperous, booming, in decline, or in economic difficulties.
Do some outside research on recent actions on the part of the Federal Reserve. The Fed is essentially responsible for monetary policy. Describe the functions of the Fed and why manipulation of the money supply has been such a prominent tactic over th..
What are the characteristics of perfect competition? Why does this type of fast-food restaurant tend to display characteristics of perfect competition? Imagine you are running a firm with the characteristics of a perfectly competitive firm. Describe ..
There is a market with inverse demand given by p(Q) = 240Q. Firm A (the incumbent) has to make an irreversible decision on how much capacity to build. After A decided on its capacity, Firm B (the entrant) will decide whether or not to enter this mark..
Please write in your own words. How has NAFTA affected the economies of North America and the EU affected Europe? What importance do these economic pacts have for international managers in North America, Europe, and Asia?
Assume that the country initially has no restrictions on trade also then imposes an import quota
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