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The Lewiston Lodge of Elks sponsored a golf tournament at the Fairlawn Country Club in Poland, Maine. For promotional purposes, Marcel Motors, an automobile dealership, agreed to give any golfer who shot a hole in one a new Dodge automobile. Fliers advertising the tournament were posted in the Elks Club and sent to potential participants. On the day of the tournament, the new Dodge automobile was parked near the clubhouse, with one of the posters conspicuously displayed on the vehicle. Alphee Chenard Jr., who had seen the promotional literature regarding the hole in one offer, registered for the tournament and paid the requisite entrance fee. While playing the 13 hole of the golf course, in the presence of the other members of his foursome, Chenard shot a hole in one. When Marcel Motors refused to tender the automobile, Chenard sued for breach of contract. Was the contract a bilateral or a unilateral contract? Does Chenard win? Is it ethical for Marcel Motors to refuse to give the automobile to Chenard?
If the value of a piece of property increases by 300% ($2 million to $6 million) in 10 years, what is the estimated rate of return? Include cash flow diagrams and P-A-I-N-F-G-g for economics problems.
The unemployment rate in November 2011 came down to 8.6% from 9.0% in the previous month. What could have been a possible reason for the decrease in the unemployment rate even when many new jobs were not created in the economy at that time?
suppose at the current level of labor used the mrp 100 and the mfc 50. to maximize profits the firm shouldadditional
You are given the following information about a monopsonist:
In the final round of a TV game show, contestants have a chance to increase their current winnings of $1 million to $2 million. If they are wrong, their prize is decreased to $500,000. A contestant thinks his guess will be right 50% of the time. Shou..
Assume 2 firms on a street of length 1, with zero costs of production. Consumers are uniformly distributed on this street, desire only one unit of the good, and value the good at V = 100. To get to the firms and purchase the good, consumers need to p..
Consider a hypothetical closed economy in which households spend $0.75 of each additional dollar they earn and save the remaining $0.25.
Horizontal equity can be determined by comparing the
Write a paragraph explaining each concept as if you were writing for your 15-year-old sibling - Fiscal Policy and the Multiplier Effect
A monopoly's demand curve is P = 200 – 3Q and its MC = $20. How many customers should this company serve? What is the price paid by each customer? What will be the company’s gross revenue in this venture?
What is the theoretical justification for a so-called Laffer curve? Based on the empirical evidence described in the text, should the U.S. raise or lower its tax rates in order to increase tax revenues? Explain.
For these reluctant companies, what issue is most likely to prevent them from using your software?
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