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On August 15, 2014 Emma signed a contract to purchase 35,000 gallons of ethanol from Korey for resale at her ethanol station. When Emma signed the contract, the ethanol was warehoused in a holding tank at Korey's production facility. The contract allowed for Emma to take delivery of the ethanol from the holding tank on August 21,2014. Emma had no storage facility, and arranged to have the ethanol picked up from the holding tank on August 25 and immediately transported to her retail ethanol station. On August 24 lightning strikes Korey's production facility and causes a major explosion that destroyed the holding tank and the ethanol. Korey later bills Emma for the 35,000 gallons of ethanol. Emma refuses to pay. Korey seeks your advice about the strength of his claim against Emma.
Describe how the equilibrium wage and employment levels are determined. Depict how a legal minimum wage alters market outcomes.
Explain what it would mean for you to move upward and to the left along your personal PPF. What kinds of adjustments would you have to make in your life to make such a movement along the frontier?
Define the Social Planner Problem. Solve the Social Planner Problem. This is, find the Euler equation in terms of exogenous variables and the only endogenous variable k2. Define the tax distorted competitive equilibrium of this economy. Solve the rep..
Given the production function Y = A and fixed values for the saving rate and depreciation, if productivity is growing at an average rate of three percent, and the labor input grows at two percent, there is a unique growth rate of capital that is su..
q.a friend of yours is considering two cell phones service providers. provider a charges 120 per month for the service
A company bought a machine with an initial value of $120,000 with life time of 8 years and a salvage value of $12,000, assuming ? =0.60 find the book value at year six using the declining method.
What is the rationale for government to regulate the activities to businesses? How is our economic and social existence shaped by government regulations?
You manage MBA Deli which sells meals at a price of $6 each. The average number of meals sold per month is 7,000. MBA Deli would like to increase its sales and profits. The MBAs running the Deli, know that if price is lowered, they will sell more mea..
Is there a relationship between changes in productivity and the education level or the percentage of people attaining a particular level of education as hypothesized in economics?
Describe the transition from short-run to long-run equilibrium in a monopolistically competitive industry.
Restaurants have observed that large parties (eight or more) leave a lower average tip than smaller parties. Identify the effect, which also makes it more difficult to reach global environmental agreements, responsible for this phenomenon.
For the next three questions we will consider Sante Bank, which has the following (partial) list of accounts on its balance sheet:
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