If a tax is levied on the sellers of a product, then the demand curve will become flattered.
Option A. becomes flattered.
If a tax is levied on sellers of a product, then the supply decreases, the supply curve will shift to the left. The demand curve will not shift. This is shown in the following figure;
S+tax Price E1 pl p 0 q1 q Quantity х
In the above figure, the x-axis shows quantity and the y-axis shows the price. D is the demand curve and S is the supply curve. As a result of the tax, the supply curve will shift to the left. The price increases from p to p1 and quantity decreases from q to q1.
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The answer you are looking for is IMPLIED CONSENT.
External failure is a cost that relates to all errors not detected and therefore not corrected upon delivery to the customer.
Answer:
Yes
All agreement are contract, but not all agreement are contract.
Explanation:
All agreement are contract, but not all agreement are contract. If an agreement fails to create legal obligation, then it cannot become a contract.
An agreement is created when there is a mutual understanding between parties. It can either be have a legal backing or not.
A contract is a written or express legally binding agreement between parties to perform a task or obligation.
For an agreement to become a contract, it must be legally binding between the parties. Just as in the case of (CARLILL V CARBOLIC SMOKE BALL CO (1893). It was held that no contract existed between the parties because the agreement is not enforceable under the law.
