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Acceptance. Troy Blackford smashed a slot machine while he was gambling at Prairie Meadows Casino. he was banned from the premises. Despite the ban, he later gambled at the casino and won 9,387. When he tried to collect his winnings, the casino refused to pay. He filed a suit for breach of contract, arguing that he and the casino had a contract because he had accepted its offer to gamble. Is there a contract between the casino and Blackford? Discuss. In 50 or more words.
Suppose that an economy is producing on its production possibilities curve but is not producing quantities of each good where the marginal benefit equals the marginal cost for each good.
Select an economic problem or theory and discuss how dummy variables could be applied. Determine the value that dummy variables would add to your analysis (think outside the box on this one – avoid obvious examples like gender, race, etc.).
The value chain and strategic cost analysis. Sustainable Products raises trees, cuts the trees into logs, and processes the logs into paper. Sustainable Products sells the paper to a distributor, who then sells the paper to printers. Assume that a we..
The following are examples of benefits except: To convert inflated dollars into constant-value dollars, it is necessary to take inflated dollars and: Which is NOT true about Public Sector projects?
Imagine a market where there is perfect competition between two or more companies, such as a fish market where vendors offer the same products at the same price or online ticket auctions like StubHub. How could changes in technology affect the market..
You are given the following information about the market for market data for a brand of refrigerators. calculate the consumer and producer surplus in this market. Calculate the new consumer and producer surplus in this market. Calculate any deadweig..
Harper is spending a three-day weekend at a beach property. Upon arrival, Harper bought a quart of ice cream and must divide consumption of the quart over each of the three days. Her instantaneous utility of ice cream consumption is given by u(c)=c^0..
Suppose a firm faces the demand curve which gives a constant price elasticity of demand of -2. (Lerner Index) If the firm's marginal cost is constant at $2, what is the profit-maximizing price and quantity? If the firm's marginal cost increases to a..
Under a system of fixed exchange rates and high capital mobility, is monetary policy or fiscal policy better suited to promoting internal balance? Why? Under a system of floating exchange rates and high capital mobility, is monetary policy or fiscal ..
Is the plan simple and succinct? Is it easy to understand and act on? Does it communicate its content clearly and practically? Is it not unnecessarily long? Is the plan realistic? Are the sales goals, expense budgets, and milestone dates realistic?..
Suppose the marginal benefit of writing a contract is $50, independent of its length. Find the optimal contract length when the marginal cost of writing a contract of length L is: What happens to the optimal contract length when the marginal cost of ..
An enterprise risk management framework should include both program risk and institutional risk. Define program risk. Define institutional risk.
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