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nadya68 [22]
4 years ago
5

Frank bought a diamond ring for his girlfriend from Bill. Bill told him he had given the ring to his fianc, who returned it when

she broke off the engagement. In fact, Bill had stolen the ring at a party. Frank had no reason to know or suspect that the ring was stolen. What is Frank's liability in these circumstances?
Business
1 answer:
KiRa [710]4 years ago
8 0

Answer:

The correct answer is: Frank has committed no tort or crime

Explanation:

The crime is defined as a typical, unlawful, imputable, guilty action, subject to a criminal sanction and sometimes to objective punishable conditions. It involves a violation of criminal law. That is, an action or omission typified and punishable by law.

In this case, an action of this type is not configured for Frank, because due to the circumstances he did not take any undue action.

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An industry is composed of 10 firms, all with equal sales (e.g. firm 1 sales are 10% of the market, firm 2 sales are 10% of the
Gelneren [198K]

Answer:

0.40

Explanation:

The four firm concentration ratio = 10%+ 10% + 10% + 10% = 40% =0.40

I hope my answer helps you

5 0
4 years ago
A manufacturing company has variable overhead costs of $2.50 per unit and fixed costs of $5,000 per month. Each unit requires 4
Verdich [7]

Answer:

Standard Overhead rate is $1.25 per Direct labor hours

Explanation:

Total variable cost (2000 unit * $2.50) =    $5,000

Total fixed cost                                       =    <u>$5,000</u>

Estimated Overhead cost                     =     <u>$10,000</u>

<u />

Estimated Direct labor hour = 2000 unit * 4 hours = 8,000 hours

Standard Overhead rate = Estimated overhead cost / Estimated Direct labor hour

Standard Overhead rate = $10,000 / 8,000 hours

Standard Overhead rate = $1.25 per Direct labor hours

8 0
4 years ago
Guaranteed Appliance Co. produces washers and dryers in an assembly-line process. Labor costs incurred during a recent period we
Aleks [24]

Answer:

$180,000.

Explanation:

The Guaranteed direct labor cost to be recognized by the company is the cost of labour incurred directly in the course of production.

From the cost group given, the cost of plant supervisor, corporate executives, and security guards are all indirect cost.

The only direct cost for this company is the assembly-line workers cost at $180,000.

6 0
3 years ago
If Calibrated believes that orders will fall off by no more than 15% following a 10% price increase, should it go through with t
ra1l [238]

Answer:

should it hold the price constant and meet all the excess demand with an increase in production

Explanation:

to determine if the firm should increase their price or not, we have to determine the elasticity of demand.

Price elasticity of demand measures the responsiveness of quantity demanded to changes in price of the good.

Price elasticity of demand = percentage change in quantity demanded / percentage change in price

If the absolute value of price elasticity is greater than one, it means demand is elastic. Elastic demand means that quantity demanded is sensitive to price changes.

Demand is inelastic if a small change in price has little or no effect on quantity demanded.  the absolute value of elasticity would be less than one

elasticity of demand = 15% / 10% = 1.5

Demand is elastic. if price is increased, the quantity demanded would fall more than the change in price and total revenue would fall.

7 0
3 years ago
Kelly wants to know if the house she wants to buy has any maintenance issues.
bija089 [108]

The answer is: ask a home inspector to check the house

The inspector's main job is to check various places on the house to determine whether there is a possible hazard or unseen damage within the house. The information that you get from the inspectors could help you determine a fair pricing for the house and help you decide whether the house is suitable for your standard or not.

7 0
4 years ago
Read 2 more answers
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