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Tim and Tom are twins. They live and work near the beach and are also partners in TnT, Inc., a bicycle messenger service. When deliveries are few, especially in the summer, Tom without telling Tim, rents the extra bicycles to tourists who want to explore the resort area. Because the bicycles aren’t being used for deliveries, is it acceptable for Tom to keep the proceeds he receives from renting leasing the unused bicycles? Explain your answer based on the facts in the scenario in the context of partnership law.
In this session, we have learned the characteristics and limitations of life insurance underwriting. Explain what the characteristics and limitations are in reference to two, uniquely different environments for the applicant for life insurance. Envir..
Assume the U.S. government implements a policy that achieves the savings rate needed to achieve the golden rule level of capital.
Draw a graph that shows the marginal revenue product curves of the two franchises. Make sure your axes are properly labeled. Show the equilibrium level of competitive balance and the equilibrium level of player salaries.
The color copy machine market is dominated by a large firm with significant production capacity. The market demand for color copy machines is: Q = 4300 - 5 P The dominant firm has projected the supply by the small firms in the market to be: Qs = - 70..
Suppose SRAS is horizontal as believed by Keynesian economists and is given by P = 110 and that the aggregate demand curve is P =200-2Q. Now suppose that the SRAS shifts upward from P=110 to P = 115. What will happen to the inflation rate? What will ..
Assume you have 4000 in a savings account at the beginning of the year price level is 100 the account pays 7% interest annually. if the price level is equal to 115 at the end of the year, the real value of your saving is?
Draw the 3 graphs required to show the impact on overall GDP of a decrease in the money supply. Also carefully explain, in your own words, the relationships between the graphs, the process of adjustment, and the overall impact of the money supply dec..
How might advertising make markets less competitive? How might it make markets more competitive? Give the arguments for and against brand names.
These three problems related to Business Economics. The 1st problem is about retrofitting a production line with new production technique which is about half the cost of current production line.
Solve for Equlibrium Price & Quanity. Calculate Price Elasticy of Demand at Equlibrium. If a $3 Tax was imposed on SELLERS, calcuate BUYERS tax burden.
When the world price of some good is above the domestic price (before trade), then after trade, that nation will likely be:
The demand function for a firm’s product is Q(P) = 50-P/10. The firm’s cost of production is C(Q) = Q^3-20Q^2+125Q. The firm’s problem is to choose the value of Q≥0 that maximizes its profit. Calculate the firm’s profit-maximizing price and quantity...
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