Answer:
The correct answer is (A)
Explanation:
Soft drink manufacturing industry faces a high threat of substitutes. Not many soft drink brand exit the market but many new companies and brand enter. Similarly, that is the reason why prices of soft drink do not fluctuate as compare to other food items. The competitive environment in the soft drink industry creates a high threat of substitutes.
Answer:
Jones is liable to pay.
He is liable to pay to the tune of $1000. This may be negotiated however if it is not fair.
Explanation:
See the following points
- The question above is an example of Implied At-law contracts. (We will get to the definition of this in a bit).
- A contract is a legally binding agreement that recognises and governs the rights and duties of the parties to the agreement. A contract is legally enforceable because it meets the requirements and approval of<u> the Law</u>. From the above definition it is clear that two people may actually be engaging in a contract without knowing it.
- The law defines that a contract is.
- Contracts may be Express or Implied.
- Express contracts are simply contracts that are stated expressly, or openly, in either writing or orally, at the time of contract formation.
- Implied contracts are created when two or more parties have no written contract.
- There are two types of implied contracts:
- Implied In-Fact Contracts: these are contracts which create an obligation between the parties based on the facts of the situation. For example, assume your neighbor hires you to wash his car every Friday for the entire holidays. You wash your neighbor’s car for the first four weekends of the holidays and get paid on Friday morning each time. The fifth Friday you wash the car and when you arrive at your neighbor’s house for your pay, your neighbor refuses to pay you. The law will infer that there is a contract between you and your neighbor, even though you never put anything in writing. This is an implied in-fact contract.
2. The other type of Implied contract is that which is Implied At-Law
In the case between Jones and Smith, the law imposes a duty to perform a contract, and will enforce such a contract even against a person’s will, where the situation is such that without this legal intervention, one party would be <u>unfairly enriched</u> or advantaged by another party’s action.
- In the question above, Smith is a CPA. He is qualified in every respect to carry out Professional Tax services. His services may be relied upon with a great degree of confidence.
- If Jones had not filed those tax returns, he probably would have lost monies that should have accrued to him from the government.
This type of agreement is also considered a quasi-contract. A quasi-contract occurs where the law imposes an obligation upon the parties where in fact the parties did not intend to enter into a contract and made no promise to perform.
However, because one party would be unjustly enriched by another party’s action, the beneficiary of those actions must make restitution or pay fair value for the services provided, even though there was never any intention to enter into an agreement.
Cheers!
Answer:
The correct answer is letter "D": one.
Explanation:
After graduation from college, <em>young professionals should enroll in one professional program</em> at least so whenever they present their resume to companies, with their <em>memberships</em>, they show they are interested in following a path career in their field of study. This will let employers have an idea of the type of person they are dealing with and are likely to get the impression the young professional is taking the application seriously.
Answer:please refer to the explanation section
Explanation:
The question is incomplete, The amount that each firm must produce is not given or the Quantity/demand equation that each firm faces is not given. We use a firm's quantity/demand equation to calculate how much each firm should produce and then work out the number of firms that should exist in the industry.
let us assume quantity produced by each firm is given by this equation;
Q = 1900 + 15000Price
We need to plug the Price of $2.54 per unit Vitamin Bottle to the quantity equation. Q = 1900 + 15000(2.54) = 40 000
each firm must produce 40 000 units
Number of firms that should exist = Total Market Quantity/Firms Quantity Number of firms that should exist = 1055 560 000/40 000
Number of firms that should exist = 26389
When the price is $2.54, with each firm Producing 40000 units, 26389 firms should exist in the market to cover the total Market Quantity of 1055 560 000.
The question may provide you with the Quantity that each firm must produce, in that case you simple divide total market quantity by the firm's quantity to find number of firm that should exist.
When you are given quantity equations you use the price to work out quantity produced by each firm and then Divide the Market Quantity by Firm's quantity to find number of firms that should exist
