Answer:
D. Both b) and c) are correct.
Explanation:
Consumer surplus is the difference between the total profit we get from service and its market price. This means that the first unit to acquire we value it highly but as we acquire additional units our valuation falls. However, the price we pay for any unit is always the same.
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Answer and Explanation:
In contract law, there are two parties involved in a contract: the offeror and the offeree, also called the promisor and the promisee. In the above example, the notice of vacancy for a management trainee in DBBL is an offer made to the prospective employee which is the person that applies for the job. It is not yet a contract as there has to be a legally binding agreement between the two parties first(A contract is valid if there is an offer, an acceptance, and a consideration). The employer is the offeror here since he proposes the terms of the offer and the employee is the offeree since he is the one to which the offer is made and then chooses to accept the offer or not by applying for the job and finally accepting the job offer. Therefore you are the promisee or offeree here.
