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OleMash [197]
3 years ago
7

For the doctrine of promissory estoppel to​ apply, which of the following is NOT a required​ element? A. the promisor should hav

e reasonably expected to induce the promisee to rely on the promise B. the promisor made a promise C. there was an​ offer, acceptance, and consideration D. the promisee actually relied on the promise and engaged in an action or forbearance of a right of a definite and substantial nature E. injustice would be caused if the promise were not enforced
Business
1 answer:
erik [133]3 years ago
3 0

Answer:

C) there was an​ offer, acceptance, and consideration

Explanation:

The doctrine of promissory estoppel requires that the following 5 elements must exist:

  1. The parties must anticipate that some type of legal relationship will exist between them.
  2. One party must have made a promise to another party.
  3. One party must rely on the promise made by the other party.  
  4. The party that relied on the promise made by the other party must suffer a detriment if the promise is not fulfilled.
  5. Unconscionability , in other words, there is nothing that forbids the party from performing the promise.
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Ahrends Corporation makes 59,000 units per year of a part it uses in the products it manufactures. The unit product cost of this
AysviL [449]

Answer: $66.90 per unit

Explanation:

Cost that would be avoided is:

= Direct materials + Direct cost + Variable manufacturing overhead + part of fixed manufacturing overhead

= 20.80 + 26.50 + 6.90 + (36.10 - 31.40)

= $58.90

If the outside supplier commits to 59,000 units a year, the company should not pay more than:

= (Number of units supplied * Avoidable cost + contribution margin on other product (opportunity cost) ) / Number of units supplied

= (59,000 * 58.90 + 472,000) / 59,000

= $66.90 per unit

8 0
3 years ago
A firm can produce two products with the cost function c(q1, q2) = 10 5q1 5q2 - 0. 2q1q2. the firm enjoys:____.
Llana [10]

The correct option for The firm enjoys economies of scope.

economies of scope exist if C(Q1, 0) + C(0, Q2) > C (Q1, Q2) (10 + 5Q1) + (10 + 5Q2) > 10 + 5Q1 + 5Q2 - 0.2Q12Q2.

Economies of scope is an economic theory stating that the average total cost of production decrease as a result of increasing the number of different goods produced. For example, a gas station that sells gasoline can sell soda, milk, baked goods, etc.

Economies of scope is a financial precept wherein a commercial enterprise's unit value to supply a product will decline because the form of its products will increase. In different words, the extra one of kind-but-comparable goods you produce, the lower the total cost to provide each one may be.

Your question is incomplete. Please read below for the missing content.

A firm can produce two products with the cost function C(Q1, Q2) = 10 + 5Q1 + 5Q2 - 0.2Q1Q2. The firm enjoys:

A. economies of scale in the two products separately.

B. economies of scope.

C. cost complementarity.

D. economies of scale in the two products separately and cost complementarity.

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6 0
1 year ago
What types of performance measures you will use to measure the performance of your informatics solution project
Tema [17]

Workload or output measures, Efficiency measures, Effectiveness or outcome measures and Productivity measures will use to measure the performance of our informatics.

The study of the composition, dynamics, and interactions of biological and artificial computer systems is known as informatics. The representation, processing, and exchange of information in unnatural and artificial systems are the subjects of informatics.

The study of computing systems, particularly those used for data storage and retrieval, is known as informatics. According to ACM Europe and Informatics Europe, the terms "informatics" and "computer science," both of which center on the transformation of information, are interchangeable.

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8 0
2 years ago
The opportunity cost of attending college is likely to be highest for a high school graduate Choose one: A who is very intellige
Valentin [98]

Answer:

B. who can immediately take over the family business

Explanation:

<em>Option A</em> is wrong because opportunity cost is not related to intelligence.

<em>Option C</em> is not correct because a high school graduate and a college attending student can access to student loans.

The family's wealth can not be a factor in terms of opportunity cost of attending college or a high school graduate. Therefore, <em>option D</em> is incorrect.

Option B is correct as a college attending student cannot take over the family business. So, it is his opportunity cost. On the other hand, a high school graduate can take over the business.

8 0
3 years ago
If costs are 85% of sales (and profit is 15%), what is the amount of extra sales needed to equal $1,200 in profit from purchasin
attashe74 [19]

Answer:

$8,000

Explanation:

Given that

Profit = $1,200

Cost = 85% of sales

Profit = 15%

We know that

Sales = Cost + Profit

         = 85% + 15%

         = 100%

So sales percentage is 100%

Now we use the unitary method to find out the extra sales which would be

= Profit × sales percentage ÷ profit percentage

= $1,200 × 100% ÷ 15%

= $8,000

7 0
3 years ago
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