Which type of statement is used to communicate one's feelings in a non confrontational manner?

George consumes two goods, milk and cookies. He has maximized his utility given his income. Milk costs $2 per gallon and he cons

olga nikolaevna [1]

Answer:

George buys 5 bags of cookies each month

Explanation:

Given

$Milk = \$2$ (per gallon)

$Marginal\ Utility\ (milk) = 4$

$Cookies = \$4$ (per bag)

Required

Determine the number of bags of cookies he buys

First, we need to determine the marginal utility of cookies

To solve this, we make use of the following formula:

$\frac{MU\ of\ Milk}{Cost\ of\ Milk} = \frac{MU\ of\ Cookies}{Cost\ of\ Cookies}$

Substitute values for

MU of Milk = 4

Cost of Milk = 2

Cost of Cookies = 4

This gives:

$\frac{4}{2} = \frac{MU\ of\ Cookies}{2}$

$2 = \frac{MU\ of\ Cookies}{2}$

$MU\ of\ Cookies = 2 * 2$

$MU\ of\ Cookies = 4$

From the given table:

The corresponding bags of cookies for marginal utility of 4 is 5

Hence:

George buys 5 bags

8 0

3 years ago

Occasionally, _________________ may lead to pure monopoly; in other market conditions, they may limit competition ______________

makvit [3.9K]

Occasionally, barriers to entry may lead to pure monopoly; in other market conditions, they may limit competition to a few oligopoly firms

<h3>Do barriers to entry exist in a pure monopoly?</h3>

Due to entrance restrictions that deter prospective rivals, firms acquire monopolistic power. Barriers to entry, or conditions that make it difficult or impossible for potential competitors to participate in the market, give monopolies their market strength.

The four main elements of monopoly are: (1) a single business controlling the entire output of a market; (2) a distinctive product; (3) barriers to admission and departure from the industry; and, frequently (4) specialised knowledge about production methods that are not available to other potential producers.

Learn more about monopoly refer

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#SPJ4

4 0

2 years ago

Which organization requires a 90 day supply of oil (links to an external site.)links to an external site. (known as the strategi

lora16 [44]

The organization that requires a 90-day supply of oil is the International Energy Agency (IEA). Each country in the organization must stock an amount of petroleum equivalent to this amount because of the organization's obligations.

8 0

3 years ago

At the beginning of the year, a firm has current assets of $328 and current liabilities of $232. At the end of the year, the cur

GarryVolchara [31]

Answer:

$125

Explanation:

Computation for the change in net working capital

Using this formula

Change in net working capital =( Ending Current asset- Ending Current liabilities) - (Beginning Current asset- Beginning Current liabilities)

Let plug in the formula

Change in net working capital =

($493 – $272) – ($328 – $232)

Change in net working capital = $221-$96

Change in net working capital =$125

Therefore the Change in net working capital will be $125

5 0

3 years ago

Pierre left a message on Shayna’s voicemail stating, “Hey Shayna. Regarding that painting we talked about. I changed my mind and

zysi [14]

The contract between Pierre and Shayna is not a valid contract due to the lack of acceptance from Shayna.

Further Explanation:

Contract:

A legally enforced agreement is considered a contract. An agreement is a promise between two parties to perform tasks for each other for some consideration. When an agreement becomes legally enforced, then it is considered as a contract. So the contract is a legally enforced promise between two parties for considerations. Both parties should get consideration and have a performance obligation.

Following factors are required for the contract:

Offer: A person should offer some consideration to another person for performing any activity or in the exchange of goods.

Acceptance of offer: The other person should accept the offer made by the first person.

Valuable consideration: There should be valuable consideration for both the parties.

Mutual obligation: Parties should promise to execute their obligated activities.

The performance capacity of the parties: Parties should be capable of performing the contract.

Legally enforcement: The contracts should be legally enforced.

These are the basic elements of a contract. If any contracts lack any of the given factors, then it will not be considered as a valid contract.

The contract between Pierre and Shayna:

In the current case, Pierre makes an offer to sell the painting to Shayna. Pierre leaves a message in the voicemail of Shayna, stating that if Shayna does not contact Pierre within one hour, then Pierre would consider that the Shayna wants to purchase the painting.

It is not a valid contract as it lacks the acceptance of the offer from Shayna.

Pierre enters the contract to sell the painting without considering the acceptance of the offer by Shayna. Pierre puts a condition that if she does not receive any revert from Shayna within one hour, then she would consider that Shayna has accepted the offer. For a valid contract, the promisee should accept the offer but the condition of acceptance (revert within one hour) does not state for the acceptance of Shayna. So, it will not be considered a valid contract.

Thus, the contract between Pierre and Shayna is not a valid contract due to non-acceptence.

Learn more:

1. Learn more about the cash deficiency

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2. Learn more about the span of control

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3. Learn more about the sales budget

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Answer details:

Grade: Senior School

Subject: Business Law

Chapter: Contract Act

Keywords: Pierre, message, Shayna, voicemail, painting, mind, sell, steal, people, ASAP, hear, within an hour, not a valid contract, purchase a painting, lack of a(n), contract act, agreement, law, business law, promise, valid contract.

7 0

3 years ago