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There is an ongoing debate over the use of arbitration clauses in consumer contracts. Differences between arbitration and litigation include the costs charged to the parties, the speed of resolution, and the procedure of resolving a case, including how and where the arbitration is conducted and limitations on discovery. Critics of consumer arbitration say that arbitrators and arbitration administrators can be biased, arbitration clauses are not conspicuous, and for many classes of consumer goods and services, nearly all providers require arbitration. Proponents of consumer arbitration cite "consumer-friendly" terms that lower the cost of arbitration to consumers and provide incentives for consumers to bring claims in arbitration. Most arbitration clauses require parties to waive their right to proceed on a class action basis in either court or arbitration.
1. Give an example of a company that uses consumer arbitration. (You've probably signed quite a few. Contracts for cell phones, gym memberships, leases for apartments.)
2. Should companies be permitted to include binding arbitration clauses in consumer contracts?
Providing a subsidy to correct for an overallocation of resources Providing a subsidy to correct for an underallocation of resources.
Artsy T-Shirts sells 100,000 shirts a year, priced at $14 each. The company can produce any number of shirts at a constant cost of $10 each. It is considering expanding its sales by lowering the price to $12. What minimum increase in sales would be n..
Equivalent to selecting the output where the spread between total revenue and total cost is greatest.
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Why would you sell these items through retail stores, or would you try direct marketing.
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Assuming you have a capital budgeting problem with 6 investment options, what is the maximum number of investment combinations you would have to test? Calculate. Show work
At 25 cents apiece, Mrs. Brown sells 100 candies per week. If she drops his price by 20 cents, her weekly sales will increase to 110 candies per week. Is the demand for candies elastic or inelastic? Provide three everyday examples to illustrate what ..
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