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mestny [16]
3 years ago
15

Ted is the owner and chief executive officer of a business. He recently began an advertising campaign to promote a new product t

hat is regulated by state law. The law is somewhat unclear. Before launching the campaign, he researched the relevant law and consulted with his attorney in an effort to comply with the law. Nevertheless, the attorney general of his state has filed a lawsuit against him for deceptive advertising. Ted's best defense is that:
a. his firm made a profit on the product.b. he acted in good faith.c. his attorney was incompetent.d. the law is unfair.
Business
1 answer:
irga5000 [103]3 years ago
3 0

Answer:

Option B- He acted in good faith.

Explanation:

The person who is trading with the other party owes the duty of care which is well stated in the negligence act. However in this case we saw that though the law was unclear but still the CEO acted in best interest of the public at large by consulting the attorney to shed light on the issue. Remember law is ethically minimum that is desired but in this situation the CEO was committed to comply with law that's why he consulted attorney. So saying that he acted in good faith is the best defense in the court.

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Suppose that Italy and Sweden both produce jeans and stained glass. Italy's opportunity cost of producing a pane of stained glas
Simora [160]

Answer:

The correct answer is option C.

Explanation:

Italy and Sweden both produce jeans and stained glass.

Italy's opportunity cost of producing a pane of stained glass  

= 4 pairs of jeans  

Sweden's opportunity cost of producing a pane of stained glass  

= 10 pairs of jeans

Since Italy has a lower opportunity cost of producing glass, so we can say that it has a comparative advantage in the production of glass.  

Italy's opportunity cost of producing a pair of jeans  

= \frac{1}{4}

= 0.25

Sweden's opportunity cost of producing a pair of jeans  

= \frac{1}{10}

= 0.1

Sweden has a lower opportunity cost in the production of jeans, so it has a comparative advantage in the production of jeans.  

So, Italy will produce and export glass and Sweden will produce and export jeans.  

Both the countries will gain from trade if the trade price lies between their opportunity cost.  

So the trade price will be 8 pairs of jeans per pane of stained glass.  

7 0
3 years ago
Accompanying the bank statement was a credit memo for a short-term note collected by the bank for the customer. What entry is re
Reika [66]

The entry is required in the company's accounts debit cash ;Credit notes receivable and interest revenue.

If a business frequently trades in goods or services for notes, it would likely add a debit column for notes receivable to the sales book so that the general journal would not need to be used to record these transactions. It is also possible to build a separate subsidiary ledger for notes payable. A corporation should create a separate provision for bad debts account specifically for notes receivable if the quantity of notes receivable is substantial.

A note is considered to be honored when the maker pays it in accordance with the terms written down on it.

Learn more about Banking here

brainly.com/question/9608829

#SPJ10

7 0
2 years ago
The interest rate on a 10-year corporate bond for a company with AA rating will be higher than for a 10-year bond for a company
Alex_Xolod [135]

Answer:

The interest rate on a 10-year corporate bond for a company with AA rating will be higher than for a 10-year bond for a company with a BBB- rating.

True

5 0
4 years ago
When GM advertises its cars, the company is trying to cause a?
Likurg_2 [28]

Answer:

The correct answer is option b.

Explanation:

When GM advertises its cars, it's trying to increase the demand for its cars.

An increase in the demand for a product is indicated by a rightward shift in its demand curve.

So advertising indicates that the company is trying to shift it's demand curve to the right.

A rightward shift in demand is caused by change in other factors while price of the product remains constant.

7 0
3 years ago
If the government regulates a natural monopolist to produce the allocatively efficient level of output, it will require the mono
jasenka [17]

Answer:

a. equal to its marginal cost and grant a subsidy to cover the loss

Explanation:

In a competitive market there is allocative efficiency non fixing of prices.

The price of commodity is equal to it's marginal cost.

A socially optimal level of output is produced thereby demand will equal marginal cost.

A monopolist however will not set price that is equal to marginal cost normally. Instead they will less goods at a higher cost and charge higher price on it.

If a government wants to regulate a monopoly the best option will be for the monopolist to set a price equal to its marginal cost and government grant a subsidy to cover the loss

8 0
3 years ago
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