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Susan, aged 16, owns a rare violin. Eric knows Susan is 16 and contracts with Susan that she will sell him the violin for $1,000 with delivery to take place when Susan is an adult. When Susan seeks to disaffirm this contract, Eric asserts that since delivery is to occur after Susan becomes an adult, she may not disaffirm. Discuss whether Eric is correct. 150 words or more
Illustrate what do the economic indicators suggest about the current economy.
Suppose firm sets an entry fee plus per-unit price for each consume. It can tailor entry fee and per-unit price to individual consumer. Illustrate what are best (profit-maximizing) entry fees and per-unit prices for it to set. Illustrate what is t..
Suppose you want to remove fourteen fish of an exotic species that have illegally been introduced to a lake. You have three possible removal methods. If the marginal cost of each removal method are, respectively, $10q1 , $5q2 , and $2.5q3 , how much ..
Suppose that you are trying to determine whether OPEC is an effective cartel. Discuss how you would go about distinguishing between the following models if you could observe market prices, output levels for individual countries, and the short run mar..
Use only IMF or World Bank data for international comparisons. What is U.S. nominal GDP at the end of 2014 (4th quarter)? What is U.S. real GDP at the end of 2014 (4th quarter)? What is the base year used in calculating U.S. real GDP? Since 1998, in ..
consider the linear demand function q 20 - 0.5pa- find the level of output with the help of calculus qrmax where total
For each of the following, predict the effects on the equilibrium levels of aggregate output (Y) and the interest rate (r). Be sure you make predictions for both Y and r! During 2000, the Federal Reserve was tightening monetary policy in an attempt t..
A study of the costs of electricity generation for a sample of 56 British firms in 1946-1947 yielded the following long-run cost functions: AVC= 1.24 + .0033Q +.0000029Q2- .000046QZ-.026Z +.00018Z2 where AVC = average variable cost (i.e. working cost..
A recent strike by the labor unions, in the U.S., led to a huge change in the working environment. As a result, not only were employees provided better working conditions and higher salary, but also guaranteed long term job security. Would this affec..
How can understanding what kind of learner you are help you to determine which type of document would help you understand better: process explanation or instructions?
Assume the supply curve for diapers is a typical, upward-sloping straight line, and the demand curve for diapers is a typical, downward-sloping straight line. Suppose the equilibrium quantity in the market for diapers is 1,000 per month when there is..
What ways do correction professionals use the social justice principles of equality, solidarity, and human rights to build a more just society?
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