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3 years ago

5

A party who has been induced to enter into an illegal contract because of fraud, duress, or undue influence can sue the other pa

rty and recover whatever consideration he has paid.
a. True
b. False

1 answer:

anygoal [31]3 years ago

3 0

B. False is the right answer

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Suppose an industry has 100 firms, each with a supply curve P = 50 + 10Q . Furthermore, suppose the market demand curve is given

elena-14-01-66 [18.8K]

Answer: See explanation

Explanation:

The industry supply curve will be the supply curve given multiplied by the total number of firms. This will be:

P = 50 + 0.1Q

Check: since Q = 100

P = 50 + 10/100Q

P = 50 + 0.1Q

To get the Equilibrium price and quantity, we've to equate the market demand curve and supply. This will be:

Market demand = P = 200 - 0.9Q

Market Supply = P = 50 + 0.1Q

Therefore,

200 - 0.9Q = 50 + 0.1Q

200 - 50 = 0.1Q + 0.9Q

150 = Q

Equilibrium quantity = 150 units

Since P = 50 + 0.1Q

P = 50 + 0.1(150)

P = 50 + 15

P = 65

Equilibrium price is 65.

The units of output that will be produced by a firm operating in this market with a marginal cost function, MC = 130Q will be 2.

8 0

3 years ago

Peggy Lane Corp., a producer of machine tools, wants to move to a larger site. Two alternative locations have been identified

Alborosie

Answer:

Instructions are listed below.

Explanation:

Giving the following information:

Two alternative locations have been identified: Bonham and McKinney. Bonham would have fixed costs of $ 800,000 per year and variable costs of $ 13,000 per standard unit produced. McKinney would have annual fixed costs of $ 920,000 and variable costs of $ 12,000 per standard unit. The finished items sell for $ 29,000 each.

Costs:

Bonham= 800,000 + 13,000*x

McKinney= 920,000 + 12,000*x

1) 800,000 + 13,000*x=920,000 + 12,000*x

1,000x=120,00

x=120 units

2) Because Bonham has a higher variable cost, from the indifference point and below, it generates a higher profit. From 120 units and more it generates less profit than McKinney.

3) Break-even point= fixed costs/ contribution margin

Bonham:

Break-even point= 800,000/(29,000 - 12,000)= 47 units

McKinney:

Break-even point= 920,000/(29,000-13,000)= 58 units

6 0

3 years ago

Welch Corporation is planning an investment with the following characteristics (Ignore income taxes.): Useful life 12years Yearl

Vlada [557]

Answer:

$339,600

Explanation:

The internal rate of return is the relationship between the price of the equipment and their yearly cash flow. the IRR makes the net present value equal to zero thus, it makes the present value of the yearly cashflow equal to the cost:

$C \times \frac{1-(1+r)^{-time} }{rate} = PV\\$

C 60,000.00

time 12

rate 0.14

$60000 \times \frac{1-(1+0.14)^{-12} }{0.14} = PV\\$

PV $339,617.5275

<em><u>From the given option:</u></em>

$ 339,600 is the closest option.

7 0

3 years ago

Beasley, Inc., reports the following amounts in its December 31, 2021, income statement. Sales revenue $ 330,000 Income tax expe

dalvyx [7]

Answer:

The preparation of the multiple-step income statement is presented below:

Explanation:

The preparation of the multiple-step income statement is presented below:

Beasley, Inc

Multiple-step income statement

December 31, 2021

Sales revenue $330,000

Less: Cost of goods sold -$129,000

Gross profit $201,000

Less: Operating expenses

Salaries expense $38,000

Advertising expense $21,000

Utilities expense $43,000

Total operating expenses -$102,000

Operating income $99,000

Non operating income or others

Less: Interest expense $10,000

Total non operating income $10,000

Income before taxes $89,000

Less: income tax expense -$35,000

Net income $54,000

3 0

3 years ago

What is the major determinant of supply?

Lorico [155]

The available demand and goods

4 0

3 years ago