This is an example of <u>Corner Solution.</u>
- A corner solution is a unique answer to the agent maximisation problem when one of the inputs in the maximised function has a quantity of zero. In layman's words, a corner solution occurs when the chooser is unable or unwilling to make a trade-off between several options.
<h3><u>In consumer theory, what do we mean by "corner solutions"?</u></h3>
- A corner solution is one in which none of the goods are present in the ideal bundle. 49 / 70. Consumer choice restrictions. The indifference curve is to the budget constraint at the best bundle if there is an inside solution.
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I'm not sure if that's possible
Explanation:
Memo
To,
Attorney
Respected Sir,
I hope that you are fine. I have been approached by a client who wants to purchase a small business and she wants to seek support of an attorney as well for the legal protection of her business deal. However she is a bit reluctant to hire more people as she has a very limited budget and might not pay you beyond her budget. She also wants to settle the deal as soon as possible.
I have seen her case and there is margin in overall deal price. She is paying to the seller a bit more than market situation, so here is a solution that I propose.
Mr Attorney; you get in with her on the deal to provide your services and in return whatever discount we can bargain from the deal, would be shared with you also as your fees. Since the client is willing to pay early, so once the deal is done you can get your fee also.
Hope to hear from you soon on this.
Regards,
XYZ enterprise
Answer:
$10,250
Explanation:
Given that
Automobile sold = 1,476,000 yen or $8,200
Exchange rate per dollar = 144 yen
The computation of car selling for today is given below:-
In 2010, Selling Price
= 1,476,000 ÷ $8,200
= $180 per yen
For Today, Selling Price
= 1,476,000 ÷ $10,250
= $ 144 per yen
So,
144 yen = 1 yen
= 1,476,000 ÷ 144
= $10,250
Answer:
The correct answer is option B.
Explanation:
According to the law of supply, ceteris paribus, there is a direct relation between price level and quantity supplied. This means that supply will increase with the increase in price level but only if other factors are held constant.
The increase in price will not lead to increase in output if the price of inputs is also increasing and in greater proportion than price of the product. With the the increase in input price, the cost of production will also increase. So the firms will not increase output.