Remodel Inc can seek compensation. By entering a contract with Leslie, both parties are bound by certain rules. The contractor must have spent some money related to performing the job. Breaching the agreement impacts on Remodel, financially speaking. They can therefore seek compensation for any amount spent due to the award of the contract, like logistics costs incurred to fulfill the contract.
This is true. They want their money back but they also want to make money so they do this. Hope this helps! ;)
Answer:
More than $40, as the marginal benefit will exceed the marginal cost.
Explanation:
A firm should continue to produce a good or service, to hire an additional worker, and to engage in any type of economic activity as long as the marginal benefit is higher than the marginal cost.
In this case, operating one room for the night costs $40. That is the marginal cost. What the customer pays for renting the room for the night is the marginal cost. Therefore, as long as the customer pays more than $40 for the night, the hotel should rent out the room, because the marginal benefit is higher than the marginal cost.
Thinking about money for some of us (including myself) creates very emotional responses. Some emotions are happiness, sadness, guilt, fear and many others. You've heard the saying "money doesn't buy happiness", but what it does buy is a trip to Hawaii for myself and a college education for my daughter. For me, that's a great happiness start. Since this is not the emotion I usually have around money I knew that it was time to do something about it. As an entrepreneur, it becomes a vicious cycle of being happy when I have money and being not happy when I don't. In between those two emotions also live guilt, fear, frustration and sometimes anger. It's time for me to change my conscious shift when it comes to money, but where do I start? I sat down with Holly Signorelli who has always had wonderful and enlightening tips on this subject. Here is our conversation (and some great tips) on how to balance your emotions regarding money
