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Elenna [48]
3 years ago
15

Cheap Motorcycle. Tony, a hateful, disgruntled business law professor, notices that Peter, a student who is past the age of majo

rity, has bought a new motorcycle. Peter has struggled through school, is in his last semester, and needs to pass business law in order to graduate. Tony tells Peter that he would like to see Peter pass, and in the next sentence, Tony says that he wants to buy the motorcycle for $100, a price far below the value of the motorcycle. Peter asks if Tony is serious about the price, and Tony replies, "I have the power here!" Tony proceeds to draw up a contract for the sale of the motorcycle for $100 with lots of fine print by which he can sue Peter and recover any maintenance costs for the next five years. Seeing that he is at an advantage, Tony also throws into the deal that Peter will mow Tony's one-acre yard for $5 all summer long. After Tony tells Peter to either take the contract or leave it, Tony reluctantly signs. Which of the following is an appropriate term for the contract drawn up by Tony?
A) AdhesionB) Implied-in-lawC) IllusoryD) In pari delictoE) Exculpatory
Business
1 answer:
Yuki888 [10]3 years ago
7 0

Answer:

C) Illusory

Explanation:

More than an illusory contract (which means an unreasonable and non-enforceable contract), this is an unconscionable contract that no court would enforce.

This contract is so one sided that it damages the other party. The duties in clued in this contact are not enforceable because no person should be forced to do all those things just because the other party has more bargaining power.

Out of the 5 possible options the illusory contract is the only possible choice. Illusory contracts are also non-enforceable since only one side provides real consideration.

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A manufacturer estimates that its product can be produced at a total cost of C(x) = 50,000 + 100x + x3 dollars. If the manufactu
timofeeve [1]

Answer:

The level of production x that will maximize the profit is: 22,966

Explanation:

C(x) = 50,000 + 100x + x³

R(x) = 3400x

P(x) = R(x) - C(x)

      = 3400x - [50,000 + 100x + x³]

      = 3400x - 50,000 - 100x - x³

      = 3300x - 50,000 - x³   .................... (A)

P'(x) = 3300(1) - 0 - 3x²

       = 3300 - 3x²

At a critical point, P'(x) = 0

∴   0 = 3300 - 3x²

  3x² = 3300

    x² = 1100

     x = ± \sqrt{1100}

P"(x) = -6x

P(\sqrt{1100}) = -6 (\sqrt{1100})   < 0

by second derivative, 'P' max at    x = \sqrt{1100} = 33.17 (rounds)

since x =  \sqrt{1100} ,

recall that P(x) = 3300x - 50,000 - x³ from equation (A)

Therefore, Maximum Profit

P(\sqrt{1100}) = 3300\sqrt{1100} - 50000 - \sqrt{1100} ^{3}

              = 3300(33.17) - 50,000 - 33.17³

              = 109461 -50,000 - 36495.26

              = 22,965.74

Maximum profit is 22,966 to the nearest whole number

5 0
3 years ago
The additional security option, used for credit card transactions, that keeps track of a customer’s historical shopping patterns
Otrada [13]

Answer: the correct answer is d. transaction-risk scoring software.

Explanation: The additional security option, used for credit card transactions, that keeps track of a customer’s historical shopping patterns and notes deviations from the norm is <u>transaction-risk scoring software.</u>

3 0
3 years ago
It is estimated that the maintenance cost on a new car will be $500 the first year. Each subsequent year, this cost is expected
Vsevolod [243]

Answer:

$-8,609

Explanation:

Calculation for How much would you need to set aside

Year Cashflows PVF 5% Present values

1 -500 *0.952381 =-476.19

2 -650(500+150) *0.907029 =-589.569

3 -800(650+150) *0.863838 =-691.07

4 -950(800+150) *0.822702 =-781.567

5 -1100(950+150) *0.783526 =-861.879

6 -1250(1100+150) *0.746215 =-932.769

7 -1400(1250+150) *0.710681 =-994.954

8 -1550(1400+150) *0.676839 =-1049.1

9 -1700(1550+150) *0.644609 =-1095.84

10 -1850(1700+150) *0.613913 =-1135.74

PV=Present value $-8,609

Therefore the amount you will need to set aside is $-8,609

7 0
3 years ago
Would it be easier to form a cartel in a market with many producers or one with few producers?
Molodets [167]

Answer:

it would be easier to form a cartel with few producers

Explanation:

since a cartel is a monopolistic type of org. few producer will earn and generate more profit

7 0
3 years ago
Some customers are __________, caring about new developments in their category and seeking out new products.
jeyben [28]

Answer:

Early adopters

Explanation:

Early adopters define to adopt a new product or technology introduced in the market place for the first customers or the new customers

Here the product or technology is the first time introduced in the market with a lot of expectations which could be in terms of sales, revenues, trust, satisfaction, etc

Therefore in the given situation, the early adopters should be chosen for the new developments in the products category

3 0
3 years ago
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