a. Mack does not have to accept the shipment
b. Olive Outlet has accepted and breached the contract
c. Olive Outlet's shipment is considered a counteroffer
d. Mack cannot revoke based on principles of promissory estoppel
Answer:
d. Mack cannot revoke based on principles of promissory estoppel
Explanation:
Promissory estoppel refers to the doctrine in contract law that allows a party's recovery for damages suffered based on the party's reliance on a promise even if there is no legal contract between the aggrieved party and the party that fails on the promise. From the above this stops mack's bar from going back on its promise to buy the goods of Olive outlet even there is no legal contract yet as olive outlet may have already suffered damages.
Answer:
A, when the AD and AS curves intersect at potential output,Y.
Explanation:
Aggregate demand curve is a graphical representation that shows the relationship between total goods and services and its price levels.
Aggregate supply curve is a graphical representation that shows the relationship between the total amount of good and services firms are willing to sell and at what price the want to sell.
For an economy to be in long-run equilibrium, an economy has to have both curves meet at a point Y which is the potential output of the economy. This means simply that demand and supply has to be balanced (in equilibrium).
I hope this helps.
Answer: A. New buy
Explanation:
The situation described is most likely a NEW BUY situation because it bares some characteristics of same. In a new buy, customers generally take their time to make a decision and put the seller through a lot of paperwork in the case of corporate entities in a bid to assess the risk or cost of the new product. It is also necessary to do so as they have no previous experience with the seller and so trust cannot play a center stage.
Jenny also implied that it was the first time she had met them and it was also the first time they had been introduced to the product so there is that.
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