The answer is the 3rd one.
My explanation would be that the other reasons listed are for personal use such as friends birthdays, music, and a new clock, but the third answer is listing things appropriate for a business.
Hope I helped !
Answer:
Seller Janet delivers a disclosure statement to Buyer Amanda. Amanda reads it over and decides everything looks good enough to continue with the purchase. A few weeks later, a major hail storm damages the roof and now it leaks. The original disclosure is no longer accurate and the statement which is false:
- Amanda can require Janet to replace the roof.
Explanation:
- Amanda can not require Janet to replace the roof as it was not mentioned in the disclosure statement. The things she can ask the Janet to do are:
- Janet should amend the disclosure statement and deliver it to Amanda.
- Janet can correct the damage to the roof and tell Amanda nothing.
- Amanda can rescind the purchase agreement within three business days after she receives an amended disclosure.
Answer:
The answer is: A price floor is above equilibrium price and causes surpluses.
Explanation:
Following the supply curve, the higher the price, the larger the quantity supplied.
So when a price floor is set above the equilibrium price, the quantity supplied will increase, surpassing the quantity demanded. That will cause a surplus of quantity supplied.
For example, if the government sets the minimum wage to $50 an hour, there will be more people willing to work than vacant positions available.
Answer:
If a perfectly competitive firm is facing a situation where the price of its product is lower than the average total cost, which of the following statements is true?
The fourth statement is true.
Explanation:
If a perfectly competitive firm is facing a situation where the price of its product is lower than the average total cost, then the firm is generating a loss, and if things are not expected to improve the firm will leave the industry.
Statement 4 is correct.
