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3 years ago

In the sale of a business, if the requirements of the Uniform Commercial Code are not

1 answer:

5 0

If the requirements of the Uniform Commercial Code are not followed, the party that is most probable to suffer the highest injury is the buyer

The UCC comprised of rules that applied for the following contracts:

Sale of goods
Goods leasing
negotiable instruments
banking transactions
letter of credit
investment securities
transactions that are secured

It is to be adopted in many states also at the same time it gives the remedies and rights to both the buyer & seller

So, the parties that do not suffer are:

Broker
Creditor
Lender

Therefore we can conclude that If the requirements of the Uniform Commercial Code are not followed, the party that is most probable to suffer the highest injury is the buyer

Learn more about Uniform Commercial Code here: brainly.com/question/8476938

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2 years ago

What is the range for the relative price of cloth such that the economy produces both cloth and food? From _______ to _______ .

dezoksy [38]

The answer is explained in detail below

Explanation:

$a_{KC} = 2$

$a_{LC} = 2$

$a_{KF} = 3$

$a_{LF} = 1$

Labor, L = 2000; Capital, K = 3000

Labour constraint,

$2Q_{c} + Q_{F} \leq 2000$

Capital constraint ,

$2Q_{c} + 3Q_{F} \leq 3000$

Solving the equation further, we get

$Q_{F} \leq 2000 - 2Q_{C}$

$Q_{F} \leq 1000 - \frac{2}{3} Q_{C}$

The range for the relative price of cloth such that the economy produces both cloth and food is 2/3 and 2

Low cloth production → economy will use relatively more labor to produce cloth → opportunity cost of cloth is 2/3rd units of food.
High cloth production → economy dips on labor → taking capital away from food production → raising opportunity cost of cloth to 2 units of food.

If relative price of cloth lies between 2/3 and 2 units of food, the economy produces both goods.
If the price of cloth decreases below 2/3 → complete specialization in food production → low compensation for producing cloth
If the price of cloth rises above 2 → complete specialization in cloth production → low compensation for producing food

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3 years ago

What is say's law in economics

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Answer:

Say's law in economics is the ability to purchase something depends on the ability to produce and thereby generate income.

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