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You are an appellate judge. The issue on appeal is whether the appropriate ruling is to grant expectations, reliance or restitution damages for a particular type of breach of contract. What is important? That is, what do you look for when making your decision?
ITT Corporation in the most recent period reported current sales receipts of $542 million, current operating expenditures of $577 million and net new debt issued of $5 million. What change in holdings of financial assets must have occurred over the p..
When abdominoplasty costs were $6,000, Dr. Hurwitz treated 300 patients. When they dropped the price to $5,000, customers increased to 400. What is the elasticity of demand for abdominoplasty using arc elasticity or the midpoints formula (rounded-off..
A construction firm can lease a crane required on a project for 3 years for $180,000 payable now, with maintenance included. The alternative is to buy a crane for $240,000 and sell it at the end of 3 years for $100,000. Annual maintenance costs are e..
Sentencing System Reform: The paper should identify the various systems used in the sentencing of offenders and discuss the effectiveness of such systems. The discussion should take into account the ethics of sentencing disparity and present possible..
Economic theory predicts that the cost of general training will be:
Suppose the price elasticity of demand for bread is 1.00. If the price of bread falls by 20%, the quantity demanded will increase by: Suppose that a 20% decrease in the price of good Y causes a 20% increase in demand for good X. The coefficient of cr..
one of your econ classmates is puzzled by how the wealth effect is a reason for not only the downward sloping nature of aggregate demand (AD) schedule, but also for shifts in the AD curve. Briefly offer an ezplaination that can resolve that dilems..
Suppose there are two consumers, A and B. The utility functions of each consumer are given by: UA(X,Y) = X*Y UB(X,Y) = 2X + Y The initial endowments are: A: X = 4; Y = 2 B: X = 4; Y = 6. What is the marginal rate of substitution for consumer A at the..
Several people have argued that the recent surge in international lending and the increase in eurodollar accounts and derivatives will contribute to economic instability. Do you agree or disagree with their concerns? Why?
A 473-foot, 7000-ton World War II troop carrier (once commissioned as the USS Excambion) was sunk in the Gulf of Mexico to serve as an underwater habitat and diving destination. The project took 10 years of planning and cost $4 million. Assume the $4..
A clothing manufacturer has factories in Los Angeles (LA), San Antonio (SA), and Newark (N). Sales (in thousands) during the first quarter of last year are summarized in the production matrix.
Suppose a consumer considers Good X and Good Y to be perfect complements. Sketch the graph of the two indifference curves for this consumer. Please put the amount of good Y on the vertical axis, and the amount of good X on the horizontal axis. Also, ..
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