Answer:
d. bring suit against Pestro under Section 402A even though there is no privity.
Explanation:
Section 402A enforces strict liability for physical harm that is caused a by the product sold to a buyer by a seller.
It states that if a seller sells a defective product that is unreasonably dangerous to an end user, the seller will be liable for any physical harm that results from its use.
Privity is when a contractual relationship exists between different parties in a transaction.
In the given scenario even without a privity the parents of the children and the dogs can bring suit against Pestro under Section 402A even though there is no privity.
They don't have to have a direct contractual relationship with Pestro.
C) there are not enough resources to produce all of the good and services that everyone wants.
Answer:
Merchandise inventory = $32,864
Cost of merchandise sold = $310,776
Explanation:
As per the data given in the question,
Merchandise inventory = Balance of purchases on 21 April
= 26 units × $1,264 per unit
= $32,864
Calculating the ending inventory :
Details units
Ending inventory = beginning inventory + Purchase - Sale
Beginning inventory = 25 units
Add : Purchase made on
April 8 = 75 units
May 8 = 60 units
may 28 = 80 units
June 21 = 35 units
Total units for sale = 275 units
Less : Units sold on
April 11 = 40 units
April 30 = 30 units
May 10 = 50 units
May 19 = 20 units
June 5 = 40 units
June 16 = 25 units
June 28 = 44 units
Ending Inventory in units = 26 units
Cost of merchandise sold =Merchandise available for sale - (Merchandise inventory, June 30, 2016)
=$343,640 - $32,864
= $310,776
Answer:
$8,000
Explanation:
The entrepreneur needs $20,000. She can raise 60% from savings. It means she needs to generate 40% from other sources.
40% of $20,000 is
=40/100 x $20,000
=0.4 x $20,000
=$8,000
Answer:
a. 8,000 + 1,000 + 3.2Q
b. 27,000 + 3.2Q
c. 15,000 Units
Explanation:
a. The accounting cost function is shown below:-
Accounting cost function = Fixed Leasing and insurance cost + material cost and supplied cost
= 8,000 + 1,000 + 3.2Q
b. The economic cost function is shown below:-
Economic cost function = Accounting cost + Opportunity cost
= 9,000 + 3.2Q + 3*6,000
=27,000 + 3.2Q
c. The computation of break even point is shown below:-
Break even Point = Total Fixed Cost ÷ Price - Average Variable cost
= 27,000 ÷ 5 - 3.2
= 15,000 Units
