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Phoenix [80]
3 years ago
7

Instead of canceling their contract, William, Laverne, and Laverne's mother, Irma, form another contract in which they all agree

that William will paint Irma's home instead of Laverne's. This new agreement is known as:
a. a breach of contract.
b. substantial performance.
c. a reformation.
d. a novation.

As I understand, it's one of the last two. Probably a novation,
Business
2 answers:
polet [3.4K]3 years ago
6 0

Answer:

yes it is novation

Explanation:

Veronika [31]3 years ago
6 0

Answer:

"D"

Explanation:

Novation is a term used in contract to describe a situation where the contractual rights and obligations of one party is transferred to the other party with the agreement of all parties involved.

It signifies the end of the initial contract and the commencement of a new one. It is either in writing or substantiated by the acts and conducts of the party.

It may come in different types as listed

  • No new person or parties involved
  • Requiring the intervention of a new party for the debtor
  • A new person taking over .

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The price elasticity of demand measures the: A. responsiveness of quantity demanded to a change in quantity supplied. B. respons
pickupchik [31]

Answer:

Option "B" is the correct answer to the following statement.

Explanation:

The price elasticity of demand determines the flexibility of the volume needed to adjust the price.

The demand of an individual or market becomes inelastic if it will not adjust much to increasing prices, and it is elastic for an individual or market if the demand of a particular commodity will shift a lot as prices shift.

6 0
3 years ago
Razor Inc. manufactures industrial components. One of its products used as a subcomponent in auto manufacturing is Fluoro2211. T
Neko [114]

Answer:

Total contribution margin= $1,884,180

Explanation:

Giving the following information:

Direct Materials 150

Direct Labor 28

Variable Manufacturing Overhead 25

Variable Selling 16

Sales in units= 10,130

Selling price= $420

Direct material cost= 150*1.1= $165

<u>First, we need to calculate the unitary contribution margin:</u>

Unitary contribution margin= selling price - total unitary variable cost

Unitary contribution margin= 420 - (28 + 25 + 16 + 165)

Unitary contribution margin= $186

<u>Now, the total contribution margin:</u>

Total contribution margin= 10,130*186

Total contribution margin= $1,884,180

3 0
3 years ago
Suppose the Japanese economy has been experiencing slow growth. As a result, the Prime Minister, who thinks John Maynard Keynes
snow_tiger [21]

Answer: The recessionary gap will be equal to 1 trillion yen divided by 2.5 or 0.4 trillion yen

Explanation:

From the question, we are informed that GDP gap of 1 trillion yen and the marginal propensity to consume (MPC) is 0.60. Also, to close the GDP gap, the prime minister has decided to increase government spending. This means that there will be a recessionary gap because the actual GDP will be less than the potential GDP.

Fir the economy to be brought to its potential GDP, the spending of the government will give a stimulus to the economy. Since MPC is 0.6, the multiplier will be:

= 1/1-MPC

= 1/1 - 0.6

= 1/0.4

= 2.5

The government spending will then increase in order to close the recessionary gap as:

∆Y = ∆G × Multiplier

100 = ∆G × 2.5

∆G = 100/2.5

∆G = 40

Therefore, the recessionary gap will be equal to 1 trillion yen divided by 2.5 or 0.4 trillion yen.

4 0
3 years ago
A process plant making 5000 kg/day of a product selling for $1.75/kg has annual variable pro- duction costs of $2 million at 100
pantera1 [17]

Answer:

a. Breakeven point = Fixed cost / Contribution margin

Contribution margin = Selling price - Variable costs per unit

Variable cost per unit = 2,000,000 / (5,000 * 365 days)

= $1.10

Contribution margin = 1.75 - 1.10

= $0.65

Breakeven point = 700,000 / 0.65

= 1,076,923 kg

Fixed cost per kilogram at those units is:

= 700,000 / 1,076,923

= $0.65

_________________________________________________________

b. Net profit at original prices:

= (Contribution margin * units produced) - Fixed costs

= (0.65 * 5,000 * 365) - 700,000

= $486,250

Less taxes:

= 486,250 * (1 - 35%)

= $316,062.50

Net profit after price increase:

New selling price = 1.75 * 1.1

= $1.93

Net profit = ((Selling price - Variable cost) * units sold) - fixed cost

= ( (1.93 - 1.10) * 5,000 * 365) - 700,000

= $814,750

After tax:

= 814,750 * (1 - 35%)

= $529,587.50

Dollar increase:

= 529,587.50 - 316,062.50

= $213,525

5 0
3 years ago
ou plan to deposit $5,900 at the end of each of the next 20 years into an account paying 10.8 percent interest. a. How much will
Furkat [3]

Answer:

$326,622.73

Explanation:

Calculation to determine How much will you have in your account if you make deposits for 20 years

Using this formula

Future value = Annuity × {( 1 + interest rate) ^ time period - 1} ÷ interest rate

Future value = $5,900 × {( 1 + 0.097 ^ 20 years - 1} ÷ 0.097

Future value= $5,900 × 55.3597842916

Future value= $326,622.73

Therefore the amount you will have in your account if you make deposits for 20 years is $326,622.73

6 0
3 years ago
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