Answer:
The most likely result at trial is that the landowner's claim for specific performance will be successful, and she will be awarded the entire price of contract.
Explanation:
When there isn't a statute, the buyer bears the risk of loss when property subject to a contract for sale is destroyed without fault of any party prior to the date specified for closing. Unless the contract specifies otherwise, the buyer must pay the contract price even if the property is damaged by fire.
The inn was burned down in this case after the landowner and the buyer signed a contract for the sale of the property, but before the closing date. The contract appears to be silent on the risk of loss, and no appropriate statute exists. As a result of the common law rule, the buyer bears the risk of loss. Therefore, the landowner has the right to particular execution of the contract, which implies that the entire stipulated contract price must be paid by the buyer.
Regardless of the property's drop in worth owing to the fire, the $1 million contract price must be paid by the buyer because he bears the risk of loss.
Therefore, the most likely result at trial is that the landowner's claim for specific performance will be successful, and she will be awarded the entire price of contract.
The budget constrain is how much of each good can Joe's buy and it's given by:
Income = P_f * Q_f +P_s * Q_s
P_f = Price_of_Food
Q_f = Quantity_of_Food
P_s = Price_of_Shelter
Q_s = Quantity_of_Shelter
In case a):
300 = 5*Q_f(a) + 100*Q_s
in case b):
300 = 10*Q_f(b) + 100*Q_s
To draw each line, you can make a graphic in which the x axis is Q_s and y axis is Q_f
set Q_f = 0 and solve for Q_s which gives => Q_s = 3 so, in the x axis the line will start in Q_s = 3
the same, and solve for Q_f and it'll give =>
Q_f(a) = 60
Q_f(b) = 30
So, from the start in x axis in Q_s = 3 you draw the line (a) to the y axis Q_f(a) = 60 and you draw the line (b) to the y axis Q_f(b) = 30
To get the oportunity cost you have to divide the cost of what is given up (food) by what is gained (shelter).
Oportunity_Cost_Food(a) = 5/100 = 0.05
Oportunity_Cost_Food(b) = 10/100 = 0.10
As you can see, the oportunity cost of food increase
Answer:
D. a 10 percent decrease in the average price of a lift ticket.
Explanation:
When Price elasticity is greater than 1, that suggests that the demand for that particular good or service is highly responsive to price or is price-sensitive . Furthermore, If price elasticity is greater than 1 then an increase in price will cause revenue to decrease.
Applying the above-stated principle to the given scenario, it has been stated that 'The estimated price elasticity of demand is 1.5.' implying that the demand for downhill ski is highly sensitive and responsive to changes in price.
Therefore, the only logical economic strategy to improve revenues will be to decrease price so that revenue can increase.
Answer: 15 million people were employed.
Explanation:
Hi, to answer this question we have to multiply the adult population (25,000,000) by the labor-force participation percentage in decimal form (divided by 100).
Mathematically speaking:
25,000,000 x (60/100) = 25,000,000 x 0.6 = 15,000,000 people
15 million people were employed.
Feel free to ask for more if needed or if you did not understand something.
Answer: The fringe benefit is worth $182 more than the additional salary.
Explanation:
The Fringe benefit is valued at $3,600.
The additional salary after taxes is:
= 5,000 - (5,000 * 24%) - (5,000 * 7.65%)
= 5,000 - 1,200 - 382.5
= $3,418
The Fringe benefit is worth more than the salary by:
= 3,600 - 3,418
= $182
<em>Options are more probably for a variant of this question. </em>
