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The case of Siegel v. Eaton & Prince Co. (46 N.E. 449, 1896) involved a contract for the installation of an elevator in a department store. When the store burned down, it sought to invalidate the contract on the grounds of impossibility. Discuss the issues that are relevant to an economic analysis of this case.
an office has traditionally ordered ink refill 60 units at atime. it is estimated that the carry cost is 40 of the $30 unitcost the annual demand is 240 units and ordering cost is 40 perorder instead
a. Warner is selling in a perfectly competitive market at a price of $40. What is the profit maximizing or loss-minimizing output b. Calculate the firm's profit or loss. Show computation. c. Should the firm continue to produce in the short run
Assume your money could earn 5.0% per year in low risk securities in the 7 year period in question. Using that same amount, what amount, invested each year for the next 4 years would be sufficient to cover the future costs at the end of years 5 th..
A firm estimates that its total cost function is accurately estimated by the equation TC = 6,000 + 19Q - 5Q^2 + 0.5 Q^3 a. How much is MC at an output of 10 units b. At which output level AVC reaches its minimum
Two firms, Cappcore and Tradiola, are each emitting 6 units of pollution, and the government wants to reduce the total level of pollution from the curent level of 12 to 4. To do this, the government caps each firm's allowed pollution level at 2.
the following equations show market demand and supply respectivelyqd 10000 - 1000pqs -2000 1000pwhat is the
introductionwhat is economics system?what are the types of economics system?briefly explain each type of economics
Analyze the effect of the following two policies: first, a subsidy to research; second, a patent policy, in which each patent expires at the rate ι > 0. Explain why the effects of these policies on economic growth are different than their effects ..
Suppose that because of a technological breakthrough a firm that uses a single input to produce its output is able to double its production for any given amount of the input. What happens to the firm's average product of labor? What about its marg..
Calculate the points on the aggregate demand curve when the price level equals 0.75, 0.80, 1.00, 1.20, 1.25, and 1.50. Compute the price level and real GDP in periods 1-6. Describe the cyclical behavior of real ..
In this chapter, we saw that financial market integration is necessary for countries to smooth consumption through borrowing and lending. Consider two economies: those of the Czech Republic and France. For each of the following shocks, explain how..
S makes the first offer, with 4 bargaining rounds of alternating offers, and with S discounting 2% between each bargaining round. Compare bargaining outcomes when B discounts 10% between each bargaining round with B discounting only 1% between eac..
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