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The court stated that yes, the Sedmaks can obtain specific performance of the sales contract for the limited edition Corvette. When a sales contract is for a unique good, the UCC provides that a buyer may obtain specific performance because an award of monetary damages is not a sufficient remedy. Sales contracts for works of art and antiques are the type of contracts for which courts will order specific performance. Using a minimum of three sentences, a) Do you agree with the court's ruling? b) Why or why not?
Consider the following model of international migration. The potential migrants originate in country 0, the source country. Suppose the distribution of skills in the source country uniform over the closed interval [1, 100]. That is, worker 1 has 1 ef..
In this question, you will explain the impact of employment and unemployment in a free market economy. The country of France legislated the maximum length of a workweek. Every election season, the Affordable Care Act commonly known as OBAMACARE, beco..
Suppose that there is an announcement that chocolate causes cancer what., would happen to equilibrium price band quantity in the market for her shey's chocolate be? be able to draw the graph that illustrates your answer
Consider a typical short-run AS/AD model which consists of AD and SRAS curves. In each of the following cases, in the short run, determine whether the events cause a shift of a curve or a movement along a curve. Determine which curve is involved and ..
Elucidate what would be according to your opinion the right mix of monetary and fiscal policies for years 2011-2012. Elucidate what would be according to your opinion the appropriate structure of your investment portfolio.
Suppose there is a negative externality associated with wheat production. The costs that it imposes on society from water quality and soil erosion issues are estimated to be $1.50 higher per bushel than the private costs reflected in our supply funct..
Suppose China wishes to peg the Chinese Yuan to the US dollar at $0.20/Yuan. But, because of foreign funds flowing into China, the Yuan appreciates. How can the People’s Bank of China (China’s central bank) maintain the pegged exchange rate? Is the B..
Suppose that a labor economist performs a statistical analysis on economy-wide worker wages using standard, measurable explanatory factors, such as job characteristics, years of schooling, and so forth.
The following data pertain to products A and B, both of which are purchased by Madame X. Initially, the prices of the products and quantities consumed are: Madame X has $100 to spend per time period. After a reduction in price of B, the prices and qu..
Explain the ways in which Fiscal Policy and Monetary Policy interact by using Keynesian IS and LM curves. Discuss the impact of an expansionary Fiscal Policy and Monetary Policy on the overall level of economic activity. Include the conditions in whi..
If the company will sell the number of units obtained in part d and wants to maintain the same profit as last year, what will its new price have to be.
There are 16 hours daily to be divided between working for day and leisure. Working yields hourly wages of $10. Any hours worked in excess of eight hours are considered overtime, and are compensated at $15 hourly. Produce the budget constraint implie..
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