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On August 15, 2014 Emma signed a contract to purchase 35,000 gallons of ethanol from Korey for resale at her ethanol station. When Emma signed the contract, the ethanol was warehoused in a holding tank at Korey's production facility. The contract allowed for Emma to take delivery of the ethanol from the holding tank on August 21,2014. Emma had no storage facility, and arranged to have the ethanol picked up from the holding tank on August 25 and immediately transported to her retail ethanol station. On August 24 lightning strikes Korey's production facility and causes a major explosion that destroyed the holding tank and the ethanol. Korey later bills Emma for the 35,000 gallons of ethanol. Emma refuses to pay. Korey seeks your advice about the strength of his claim against Emma.
Maisha spends all her income on good X and good Y. As the price of good X increases while the price of the price of good Y remains fixed, Maisha’s price-consumption curve is horizontal. Let the price of good Y be $1 per unit and Maish’s income be M. ..
What amount should be amortized for year ended December 31, 2007. On January 1, 2007, Alatorre incurred organization costs of $275,000. What amount should be expensed in 2007.
Name at least two legislations to prevent monopolization of businesses. Do you believe these legislations have been helpful? Discuss.
Does the fact that Apple outsources so much of its labor affect your decision to buy Apple products - For U.S. consumers and producers, what are the pros and cons associated with Apple's decisions to outsource production?
In contrast to a socialist economic organization, how would a capitalist system differ. Consider who owns capital (means of production) in two models.
Derek consumes only rackets and tennis balls. His utility function is U(x,y)=x^2y^8, where x is the number of rackets consumed and y is the number of tennis balls consumed. Derek's income is $320, and the prices of rackets and tennis balls are $4 and..
Consider now an economy where you need to search for a job. Let b be the fraction of people that do not have a job and are searching for one. Write the equations describing the dynamics of those employed (E) and those who are not employed (NE). Compu..
The supply curve for portable charcoal grills shifts
Illustrate what difference will it make to Sony pricing if clients have now become dissimilar?
A firm has a monopoly on a new type of gaming console. The market demand is given by P=175.3-0.003*Q and thus marginal revenue is MR=175.3-0.006*Q. The monopolist's marginal cost is MC=5.2+0.001*Q. Calculate the profit-maximizing production quantity.
Two identical countries, Country A and Country B, can each be described by a Keynesian-cross model. The MPC is 0.8 in each country. Country A decides to increase spending by $1 billion, while Country B decides to cut taxes by $1 billion. In which cou..
Discuss the difference between absolute purchasing power parity and relative purchasing power parity.
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