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George Dundee operates a lumber mill outside of Oklahoma City. Dundee has a contract to deliver 15 truckloads of cut specialty lumber to Lindenwood Homebuilders in St. Charles on September 1, 2013. Although Dundee's lumber mill was not damaged in the recent tornado that ripped through large portions of Oklahoma City, many of his employees were affected by the tornado. Dundee himself lost his home and his dog Muffy in the tornado. Dundee called Lindenwood Homebuilders on July 28, 2013 and told them he would not be able to deliver the 15 truckloads of lumber because of the tornado. Lindenwood told Dundee that it needed the specialty lumber to fulfill its requirements on numerous contracts that Lindenwood had to build custom homes. Lindenwood refused to let Dundee out the contract. Dundee did not deliver the lumber on September 1. Lindenwood sued Dundee for breach of contract seeking actual and consequential damages. Lindenwood argues that Dundee's lumber mill was operational and Dundee could have delivered the lumber. Dundee argues that the situation in Oklahoma City was desperate, and that Lindenwood could have tried to locate other suppliers of the lumber to meet its lumber needs. The case is tried before you, the Circuit Court of St. Charles County.
How would you decide the case? Explain your answer using the contract principles discussed in class.
The demand and supply curves for T-shirts in LA, Ca, are given through the following equations, Determine the equilibrium price and quantity after the shift of the demand curve.
The question is that if two firms in the Cornout market merge into one firm, what would the merger result in? how much of marginal cost would prevail in the market, etc are answered in a detailed in manner in the solution.
Discuss industry structure, demand and market conditions, and the pricing behavior of Kodak in the 1990s. Do you think the industry environment is significantly different today? Explain.
Select an organization you work for or are familiar with. Could the organization you have chosen lower prices to increase revenue?
You're the manager of monopoly. A typical consumer's inverse demand function for your firm's product is P=100-2Q and your cost function is C(Q)=20Q. Find out the optimal two part pricing strategy.
The water company is privately owned and is the only water company in town. It is licensed and franchised by city for a 10 - year term, just renewed.
Discuss are a good thing since they transfer resources from lower rated to higher rated activities thereby helping to maximize society's happiness?
At a price of $24, should a perfectly competitive firm operate or shut down in a the short run if its TC is given as:
Assume the reserve ratio is 20%.If the lending process continues as far as it can possibly go, how many deposit dollars will be created from this initial $1000 deposit?
One can derive a demand function for health and for medical services from the Grossman model. Explain the differences between the two demand functions. Why does demand for health and for medical services depend on age?
The technology is now expanding so that road use can be priced through computer. A computer in surface of the road picks up a signal from your car and automatically charges you for use of road.
What price will consumers pay after the tax is levied and what proportion of the tax will be paid by the suppliers of Martin guitars?
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