Answer:
The answer to this question is c. Kathy has to pay based on a quasi contract.
Explanation:
Based on the scenario displayed above Kathy has to pay based on a quasi contract.
A Quasi contract is a contract that is created by a court order, not by an agreement made by the parties to the contract. For example, quasi contracts are created by the court when no official agreement exists between the parties, in disputes over payments for goods or services
In this case there has not been an official agreement between Kathy and the hospital, However she has to pay the bill presented to her based on Quasi contract which is created to prevent an individual to be unjustly enriched or from benefiting from the situation when he/she does not deserve to do so.
Hence the answer is c. Kathy has to pay based on a quasi contract.
Answer:
Increase by 5%.
Explanation:
Given that,
cross-price elasticity of demand between goods X and Y = 4
Percentage increase in consumption of good X = 20 %
cross-price elasticity of demand = Percentage change in quantity demanded for good X ÷ Percentage change in price of good Y
4 = 20 ÷ Percentage change in price of good Y
Percentage change in price of good Y = 20 ÷ 4
= 5%
Therefore, the price of good Y must be increase by 5% in order to increase the consumption of good X by 20 percent.
Answer:
Owner owes Builder : B. $2,000.
Explanation:
A Liability is the present obligation of the entity, that arises as a result of past events, the settlement of which is expected to result in a cash outflow from the entity.
Initially, the Owners owes the Builder $,1500
For the fence to be completed on time, an addition of $500 was owed, upon the owner accepting this arrangement.
Thus, the total obligation owing to the Builder is $2,000.
