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Leni [432]
3 years ago
8

Jackson offers to pay Casey $50 for his used business law textbook. Casey agrees to sell it for that amount. They agree to meet

one week later to exchange the money for the book. Casey and Jackson have formed:_______.a. a bilateral contract.b. a unilateral contract.c. no contract.d. a formal contract.
Business
1 answer:
Gennadij [26K]3 years ago
7 0

Answer: A bilateral contract. Option A.

Explanation: A bilateral contract is one in which both parties are bound by their promise to fulfill their side of the bargain.

Therefore by Jackson and Casey agreeing to meet to exchange book for money, they have formed a bilateral contract, because each of them has agreed to fulfill his end of the bargain.

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Money that you owe the Internal Revenue Service because you did not pay enough in over the year is known as a ________________.
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Answer:

Tax due or tax bill any one of them

5 0
2 years ago
Danny "Dimes" Donahue is a neighborhood’s 9-year-old entrepreneur. His most recent venture is selling homemade brownies that he
Marina86 [1]

Answer:

A) PED = 1.1

B) demand is elastic

C) Danny's total revenue would decrease

Explanation:

we can calculate the price elasticity of demand using the formula:

PED = % change in quantity demanded / % change in price = [(300 - 250) / 250] / [(2.25 - 2.75) / 2.75] = (50 / 250) / (-0.5 / 2.75) = 0.2 / 0.18 = 1.1

since PED = 1.1, the demand is elastic

if the PED is the same when the price decreases from $2.25 to $1.75, total revenue will    :

when price = $2.25, total revenue = $2.25 x 300 = $675

when price = $1.75, total revenue = $1.75 x 373 = $652.75

*a 22.22% decrease in the price will cause a 24.44% increase (= 22.22% x 1.1) in the quantity demanded = 300 units + (300 x 24.44%) = 373.3 ≈ 373 units

5 0
3 years ago
Jenny likes chocolates. One​ day, a friend offers her a chocolate bar and she is extremely happy on receiving it. As the day​ pr
liq [111]

Answer: Law of diminishing marginal utility

                       

Explanation: In simple words, law of diminishing marginal utility states that  as a consumer consume more of a good or service then the marginal benefit he or she receives from the additional consumption keeps on decreasing.

In the given case, Jenny's excitement keeps on decreasing with every chocolate she receives after a certain point of time.

Hence we can conclude that the given case illustrates law of diminishing marginal utility.

6 0
3 years ago
Assume oil prices rise in the United States, generating concerns that inflation may increase. If the Fed wishes to ensure that i
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If the Fed wishes to ensure that inflation does not get out of hand, the Fed could lower the <em>target money supply growth rate</em>.

Inflation is when the general price levels in an economy increases persistently overtime.  The policy tools that the Fed can use to control general price levels in the economy is known as monetary policy.

There are two types of monetary policy :

  1. Expansionary monetary policy : these are steps taken by the Fed to increase the supply of money in the economy. These steps include reducing the <em>target Funds rate, decreasing the reserve requirements and carrying out open market purchase</em>.
  2. Contractionary monetary policy : these are steps taken to reduce the money supply in the economy. These steps include reducing the <em>target money supply growth rate and carrying out an open market sales. </em>

To learn more about monetary policy, please check: brainly.com/question/15566475?referrer=searchResults

7 0
2 years ago
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