The contract between Timmy and Jennifer is not valid for legal claims because there are no ways to prove the terms they agreed to for the sale/purchase of the car.
<h3>What is a valid contract?</h3>
When we enter into an agreement with another person to carry out any commercial activity, we generally must create a document in which all the terms and conditions of the contract are established in order to bind both parties to comply with the contract.
If another type of contract is made, for example by telephone, spoken or other modality that does not have ways of verifying what was agreed, it can be considered as invalid contracts.
Based on the above, the contract that Jennifer made with Timmy over the phone is invalid because there is no way to check what they agreed to.
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Answer:
Explanation:
Let we assume the number of CD produced be X
So, the total cost would be
C = Fixed cost + variable cost × number of CD produced
= $30,000 + $17X
For total revenue, it would b
R = $63X
For total profit, it would be
P = Selling cost per CD × number of CD produced - variable cost per CD × number of CD produced - fixed cost
= $63X - $17X - $30,000
= $46X - $30,000
For number of CD, it would be
0 = $46X - $30,000
X = $30,000 ÷ $46
= 652 CD for break-even
Answer:
Passion. For those uninitiated, entrepreneurs are not in it for the money. ...
Resilience. ...
Strong Sense of Self. ...
Flexibility. ...
Vision.
Explanation:
Resolute motivation and passion. The first and foremost quality of a successful entrepreneur is passion. ...
Self-discipline. This is one of the most essential characteristics of a successful entrepreneur. ...
Risk-taking ability. ...
Creative thinking. ...
Persistence.
Answer:
B. Being unwilling to sell a painting that you already own
Explanation:
Endowment effect is when individuals value things they own more highly than things they don't own. The endowment effect postulates that individuals are unwilling to exchange things they own for something else of equal value.
The amount people would be willing to accept in exchange for the good they own is usually very high compared to the true value of the object they own.
I hope my answer helps you.
Answer:
The correct answer is b) American will leave fares unchanged and Southwest will leave fares unchanged.
Explanation:
The Nash Balance is a situation where individuals or players have no incentive to change their strategy taking into account the strategy of their opponents.
In the Nash equilibrium, the strategy chosen by each participant of a conflict or game is optimal, given the strategy chosen by the others. In other words, nobody will gain anything if they decide to change their strategy under the assumption that the other individuals do not change theirs.
It should be noted that under the Nash equilibrium the greatest gain is not necessarily obtained for all individuals or players as a whole. It is only true that each responds optimally to the strategy of others. In many cases, individuals would like to be able to reach another balance with higher profits but fail to do so because they face the risk of being betrayed.