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Crank
3 years ago
15

Lessee contracts to deliver 50 luxury automobiles to lessor no later than august 15th. on august 1st, lessee delivers the wrong

model of automobile. how much time will the lessee have to cure the defect?
Business
1 answer:
puteri [66]3 years ago
3 0
<span>Because the initial delivery was made on August 1st and the original agreement was for the delivery to be no later than August 15th, that gives the lessee exactly 14 days to correct the problem and make good on the contract.</span>
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If price is greater than average variable cost and less than average total cost at the profit-maximizing quantity of output in t
navik [9.2K]

Answer:

produce at an economic loss.

Explanation:

In a perfect competition, there are many buyers and sellers of homogeneous products, and there is free entry and exit in the market.

This simply means that, in a perfectly competitive market, there are many buyers and sellers (price takers) of homogeneous products (standardized products with substitute) and the market is free (practically open) to all individuals or business entities that are willing to trade all their goods and services.

In a perfectly competitive market in long-run equilibrium, a long-run equilibrium avails firms the opportunity to adjust all inputs and all fixed costs are maximized. Also, it's characterized by free entry and exit, as such there isn't a fixed number of firms. This simply means that, since the number of firms in a long-run equilibrium can change, a firm must exit the market as a result of losses i.e when the firm is unable to cover its fixed costs in the long-run while new firms are allowed entry into the market when it anticipates potential profits or gains.

However, the firms always strive to maximize profits by increasing their level of output, such that P = MC. Also, the firms wouldn't be willing to leave or enter into the market because they are not making any profit, such that P=AC.

In a nutshell, in the long run equilibrium P=MR=MC and P=AC.

Hence, if price is greater than average variable cost and less than average total cost at the profit-maximizing quantity of output in the short run, a perfectly competitive firm will produce at an economic loss.

Additionally, Average Total Cost (ATC) can be defined as the overall cost of production divided by total output of production. It is calculated by dividing total cost by total output of production or by adding TVC and TFC.

8 0
3 years ago
Im so bore.dddddddddddddddddddddddddddddddddddddddddddddd<br> Have some points plz
iogann1982 [59]

thanks, buddy... I appreciate it...:)

4 0
3 years ago
Read 2 more answers
1. Which of the following is NOT a general characteristic of a service? A. Production and consumption are simultaneous. B. The s
Snezhnost [94]

Answer:

B. The service can be transported

Explanation:

Service relates to providing an intangible form of work which is performed for others to yield a benefit or satisfy a want. An important aspect of a service being, it is intangible or something which cannot be touched or felt.

For example, service provided by a doctor or services provided by a waiter at a hotel. Services are consumed, the moment they are produced. For instance, services of a waiter arise when a customer enters the hotel and a want for the service is created.

Services cannot be resold as for instance the receiver performs the same service to another, the provider would change.

As services are intangible, they cannot be stored since they arise only when a want arises and are consumed immediately.

Thus, the correct option is B. The service can be transported.

5 0
3 years ago
Exchange rates are an effective way to analyze the price of one currency in terms of another currency with _____________________
nalin [4]

Exchange rates are an effective way to analyze the price of one currency in terms of another currency with the tools of demand and supply.

<h3>What do you mean by exchange rate?</h3>

Exchange rates refer to the value of one's nation's currency over the currency of another nation.

An exchange rate can be fixed or free-floating. A fixed exchange rate is pegged to the value of other currency and a free-floating exchange rate may rise or fall due to changes in the foreign exchange market.

Thus, exchange rates are an effective way to analyze the price of one currency in terms of another currency with the tools of demand and supply.

Learn more about the exchange rate here:

brainly.com/question/14930716

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