Answer:
Hazel will have to pay Jill $750 for his remaining life because Hazel had received something which is very expensive in return in compensation of his lifetime monthly payments of $750 to Jill. So this means that the 100% contract is enforceable.
The contract formation can be proved in the court because when Hazel will say that the contract is not written so according to Statute of Fraud he is not liable to pay Jill. This means he is agreeing at the point that the contract was in place.
Answer:
d. the total benefit he gets from purchasing four pairs of gloves minus the total benefit he gets from purchasing three pairs of gloves.
Explanation:
Marginal benefits refer to the additional gains obtained by the sales, purchase, or manufacture of an extra unit. It the advantage associated with buying or selling one more unit. Marginal benefit is compared with the marginal cost to determine if continuous production is profitable.
Since marginal benefits are associated with an extra item, obtaining the value of the additional items must exclude the previous units. In this case, getting the marginal benefit of the fourth item can be calculated by adding up the gains of all the four gloves then subtracting the gains of the first three.
Answer:
The answer is true.
Explanation:
The sellers in the perfectly competitive market become price takers as they have to sell under the price decided in the market through supply and demand.
This is mainly because there is no way to differentiate the product to change the price. Since all goods are identical, one good is a perfect substitute for another.
