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1. Gina attends a local gym where she leaves her car keys on a key rack which is unattended but near the check-in counter. After her workout she discovers that her keys and car are missing. She calls the police. Several hours and several miles away the police spot the car and begin a hig-speed chase. The car thief runs a red light and crashes into Terry, who is injured. Terry sues Gina and the local gym for the tort of negligence. Their strongest defense to the lawsuit would be.
2. Marianne and Ellen want to form a corporation, Bridal Flowers Company, and thus retain the Bobbo Law Firm to prepare the articles of incorporation. Bobbo Law Firm files the articles of incorporation but Bobbo's paralegal forgot to have Marianne and Ellen sign the articles as incorporations. The state notices the omission, rejects the articles as defective, and sends it back to be signed and filed again. Meanwhile, Marianne and Ellen, thinking they now have a corporation commence doing business as a corporation and start to make contracts for the delivery of flowers for weddings. Unfortunately, they could not fulfill one contract with Brenda and Eddie and are now being sued individually and personally for breach of contract. Brenda and Eddie are also claiming emotional distress damages since their wedding was "ruined" due to the absence of the promised flowers. Marianne and Ellen claim that only the corporation, Bridal Flowers, is liable for the breach of contract and any damages. Marianne and Ellen under these circumstances are protected from individual personal liability by what corporate law doctrine?
Question: Explain why the free rider problem makes it difficult for perfectly competitive markets to provide the Pareto efficient level of a public good.
Some commentators have argued that the failure of the “Super committee” is good thing for the economy? Do you agree?
Case study analysis about optimum resource allocation: - Why might you suspect (even without evidence) that the economy might not be able to produce all the schools and clinics the Ministers want? What constraints are there on an economy's productio..
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Problem - Total Cost, Average Cost, Marginal Cost: - Complete the following table of costs for a firm. (Note: enter the figures in the MC column between outputs of 0 and 1, 1 and 2, 2 and 3, etc.)
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Explain the impact of external costs and external benefits on resource allocation; Why are public goods not produced in sufficient quantities by private markets? Which of the following are examples of public goods (or services)? Delete the incorrec..
Describe the differences between shifts in demand and movements along the demand curve. What are the main factors which can shift the demand curve? Explain why they cause the demand curve to shift. Use examples and draw graphs to support your discuss..
Article Review Question: Read the following excerpts from the article "Fruit, veg costs surge' by Todd, Dagwell, published in the Herald on January 25th 2011 and answer questions below:
Long-term Growth, International Trade & Globalization:- This question deals with concepts such as long-term growth, international trade and globalization. Questions related to trade deficit, trade surplus, gains from trade, an international trade sce..
"Does the economic bailout of Spain and Greece spell the beginning of the end for the European Monetary Union (EMU)?"
Read the rules of the game, the overview and the almanac for the Development Game "Settlers of Catan"
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