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1. Discuss the implications of the Coase Theorem (see Chapter 1) for the choice of an efficient breach of contract remedy.
2. Traditional contract law treats breach of contract and discharge due to impossibility or commercial impracticability as distinct problems. Explain the sense in which economic theory views them as variants of a single problem where the relevant question is the amount of damages for nonperformance.
Except for the CPI index numbers, assume these figures represent billions of U.S. dollars. Year CPI NGDIP RGDP1997 $160.50 $7,110.00 1998 $163.00 $4,896.47 The rate of growth of real GDP between 1997 and 1998
How can we generalize to the case where the probabilities of a left and a right pocket selection are p and 1- p, respectively?
Practice with the balance of payments: Current account = Capital account + Change in official reserves a. Current account = $10, Capital account = $15 a. What is the change in reserves b. Current account = $10, Change in reserves = $3. What is the ..
If Michelle devotes all her resources to growing potatoes, she can raise 200 pounds of potatoes per year. If she devotes all her resources to raising chickens, she can raise 50 chickens per year.
A monopolist faces demand given by: P = 100 - 0.4Qd, and has marginal costs given by MC = 10 + 0.2Q a. draw the demand, marginal revenue and marginal cost curves. Calculate and show how much this firm will sell and what they will charge.
Should it invest in doubling production capacity?
The contribution margin per unit?At the break-even point, Jefferson Company sells 115,000 units and has fixed cost of $349,600. The variable cost per unit is $4.56. What price does Jefferson charge per unit?
roger has the following utility function with respect to wealthu 20w - 0.4w2.roger starts with w 25.a plot the
Betty can make either "3 bottles of wine and 0 boxes of chocolates" or "0 bottles of wine and 48 boxes of chocolates" or a combination of wine and chocolates.
If demand for housing increases by the same amount in each city, which city will experience a larger increase in price
Consider the system shown in Figure P9.4. If the input to the system, x[n], is a 32-point sequence in the interval 0 ≤ n ≤ 31, the output y[n] at n = 32 is equal to X(ejω) evaluated at a specific frequency ωk. What is ωk for the coefficients shown..
The Federal Reserve Banks sell $3 billion in securites to members of the public, who pay for the bonds with checks. Show the new balance sheet for commercial banks if reserves = 33, securites = 60, checkable deposits = 150, and reserve banks = 3.
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