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Bradley collects historic memorabilia, and one of his prized possessions is the pistol used by Aaron Burr in his duel with Alexander Hamilton. After reading an article in a magazine, Bradley discovers that Sam owns the matching pistol, used by Hamilton in the duel. Bradley contacts Sam and offers him $500,000 for the pistol. Sam e-mails Bradley that he accepts his offer but that the transaction must be for cash and face-to-face. Bradley responds that he'll be at Sam's home at noon the next day with the money. When he arrives, Sam informs him that he's received an offer of $600,000 for the pistol and states that Bradley must pay that amount or he'll sell to the other buyer. Bradley wants the weapon to complete the set. If he sues Sam, what course of action will best provide him the results he desires?
a. Sue for breach of contract and seek a legal remedy.
b. Sue for an injunction.
c. Bring a suit in equity and seek monetary damages.
d. Sue for breach of contract and seek a decree of specific performance.
You are trying to determine how much your family needs to set aside for the four years you plan to attend college for your tuition. You expect your tuition to increase your sophomore year by 11%, 12% your junior year, and 9% your senior year. How muc..
Find a symmetric Nash equilibrium to this game. That is, what number is a best response to everyone else submitting the same number? Show that choosing the number 5 is a dominated strategy. What are all of the dominated strategies?
A young college student on a tight budget is campaigning for an open city council seat. A friend in her economics class estimates that voters are influenced by TV and newspaper ads according to the following function: what is the lowest-cost combinat..
Suppose a computer manufacturer is currently producing a total of 1 million computers in two states, Iowa and South Dakota. The firm is currently employing 50,000 production workers, with 20,000 working in South Dakota and 30,000 working in Iowa.
Suppose you have been assigned to complete a group project with one of your classmates. Each of you can choose to Shirk or Work. If one or more of you chooses to Work, the project is completed and provides each with extra credit valued at 4 payoff un..
Assume that consumers are uniformly distributed along a one-mile stretch of beach. A number of ice cream vendors are pondering where to position their carts. If the price they are allowed to charge is fixed by the Equal Access to Coolness For All Coa..
Problem 1: Unipart, a manufacturing of auto parts, is considering two B2B marketplaces to purchase its MRO supplies. Both marketplaces offer a full line of supplies at very similar prices for products and shipping. Both provide similar service lev..
What is the difference between the study of microeconomics and the study of macroeconomics? Provide two examples of each form of economic analysis. Evaluate the following statement…”In order for a model to be useful, all assumptions used to create th..
The EU is the biggest common market worldwide. Please name the most important facts that describe the size and importance of this market.
If the required reserve ratio were .25, then a $8 million increase in H ("high-powered money") from the Fed could lead to an increase in the money supply by as much as $____ million.
Which of the following statements about American state sales taxes is not generally true?
Suppose that in a simple, competitive, two good (X and Y) small open economy, the world relative price of the import good X falls. At these new prices, the new quantity of X and Y consumed in the country will now cost more than the quantity of X and ..
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