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Question: Harold Ledford agreed to purchase three used Mustang automobiles (a 1966 Mustang coupe, a 1965 fastback, and a 1966 convertible) from J. L. Cowan for $3,000. Ledford gave Cowan a cashier's check for $1,500 when he took possession of the coupe, with the understanding he would pay the remaining $1,500 on the delivery of the fastback and the convertible. Cowan arranged for Charles Canterberry to deliver the remaining vehicles to Ledford. Canterberry dropped the convertible off at a lot owned by Ledford and proceeded to Ledford's residence to deliver the fastback. He refused to unload it until Ledford paid him $1,500. Ledford refused to make the payment until he had an opportunity to inspect the convertible, which he suspected was not in the same condition that it had been in when he purchased it. Canterberry refused this request and returned both the fastback and the convertible to Cowan. Cowan then brought suit against Ledford to recover the balance of the purchase price. Was Ledford entitled to inspect the car before he paid the balance due on it?
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You are currently a department manager and Jim is your "trusted assistant." You have very similar working styles, and you went to the same college and worked.
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Consider the two-player game illustrated in figure. In the first period, players I and 2 simultaneously choose U1 or DI (player 1) and L I or R 1 (player 2).
Differentiate between incrementalism and marginalism.
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