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Rescission. Farrokh and Scheherezade sharabianlou agreed to buy a building owned by Berenstein Associates for $2 million. They deposited $ 115,000 toward the purchase. Before the deal closed, an environmental assessment of the property indicated the presence of chemicals used in dry cleaning. This substantially reduced the property's value. do the Sharabianlous have a good argument for the return of their deposit and rescission of the contract? Explain. In 50 or more words.
At times, the Federal Reserve tries to change inflationary expectations. Why would the Fed want to raise inflationary expectations? How would this strategy of raising inflationary expectations affect consumption and investment? Be sure to tie your an..
An elderly physician has built up his own practice into a quite valuable business. Now that he is thinking of retiring, he wants to take on a partner to learn the business and eventually buy the practice in three years. Discuss the plusses and minuse..
KMC Incorporated uses 150,000 shafts per month in the production of sets of golf clubs. The cost of carrying in inventory is $0.50 per shaft per year, and the cost of ordering the shafts is $150 per order. The firm uses. Constant rate throughout the ..
Harlen Industries has a simple forecasting model: Take the actual demand for the same month last year and divide that by the number of fractional weeks in that month. This gives the average weekly demand for that month. This weekly average is used as..
If it is easy for a firm to get into or exit from a market, then a firm in that market will be able to earn positive economic profits. When economic profit is positive,
What is the output of each firm if they collude to produce the monopoly output? What profit does each firm earn with such collusion.
You purchased a commercial building on August 1, 2003 that you are renting to a business. The total purchase price was $140,000. You estimate that the value of the lot is $150,000 of the total purchase price. You plan to sell the building on May 30, ..
Through critical thinking in philosophy, we learn that traditions, beliefs, opinions, and assumptions can hinder us from arriving at logical decisions. Many of you are used to basing your decisions on any or all of the above (recall Plato’s Cave). Wh..
The history of contemporary racism does not include
Most people perceive international public administration to be a set of state structures, institutions, and processes. Opponents of globalization argue that it weakens states, making it difficult for them to sustain social welfare and environmental p..
What is the effect on the economic well-being of a nation when a tariff is imposed? Consult a newspaper and identify an industry where there currently is a tariff. What is the effect of this tariff on the U.S. economy?
Critics suggest that rational behaviour can't be true because: 1) people make mistakes, 2) people make decisions by habit, and 3) people often take into account the interests of others. Why don't these issues invalidate the assumption of rational beh..
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