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Explain with an example how the law may permit something that is ethically wrong.
Samuel and his friends form an LLC. Samuel, through an agreement, promises to contribute personal property to the LLC within a year of the LLC's operation. Samuel passes away in an accident a few days after signing the agreement. Will the agreement still hold? Give reasons in support of your answer.
q.which of the government policies below is not likely to encourage per capita economic growth?in the latter end of
The median household income in Louisiana is approximately $52,000 per year, while the median household income in Massachusetts is about $79,000. However, suppose the growth rate of per capita real GDP in Louisiana is higher than in Massachusetts (3% ..
An aggregate production function F(K,L) gives you how much (aggre-gate) output Y can be produced using (aggregate) inputs K and L, i.e. Y = F (K,L). For each of the following production functions (a) Determine whether they have constant returns to sc..
Clear Channel, an owner of radio stations with the Top 40 format, recently bought rock concert promoter Live Nation. How would this affect prices for concert tickets or rates for radio programming?
The initial cost of a pickup truck is $12872 and will have a salvage value of $3523 after five years. Maintenance is estimated to be a uniform gradient amount of $191 per year, with zero dollar for first year maintenance. The operation cost is estima..
Why is trust such an important trait for politics? In what ways is it helpful for levels of trust to be high? What are some of the causes of the decline in trust? How might trust be regained?
A monopoly is considering selling several units of a homogeneous product as a single package. A typical consumer’s demand for the product is Qd = 50 - 0.25P, and the marginal cost of production is $120. Determine the optimal number of units to put in..
How does this change in tax policy affect the price that buyers pay sellers for this good, the amount buyers are out of pocket including the tax, the amount seller receive net of the tax, and the quantity of the good sold?
Why are purchasing power parity numbers more meaningful than nominal numbers when comparing GDP's of different countries and GDP of people living in different countries? Why are foreign business activities more complex than purely domestic ones? What..
If a producer (who has no impact on prices) is correctly profit maximizing and making a profit, what must be true about average vs marginal cost at the current quantity being produced?
By itself, the upstream manufacturer cannot implement a price discrimination scheme against downstream consumers because downstream retailers can defeat it. To see this, suppose that home gardeners and farmers both use the same herbicide. Suppose the..
Suppose the country of Lilliput exported 263 billion dollars worth of goods while they imported 477 billion dollars worth of goods in the last calendar year. Calculate Lilliput\'s balance of trade:_____ billions of dollars.
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