I think it “A law of demand”?
Answer and Explanation:
According to the scenario, the explanation of the given situation are as follow:-
1. Ability of Contract : According to the law except of some contract a minor can enter into any contract. Mr. kalen is a seventeen year old minor and he can entered the rent contract because it is not banned by the government for the minor.
2. This is a voidable contract because Mr. Kalen is a minor and he not legally capable to entering in agreement. In voidable contract one party has a right to discontinue the contract it is depends on him that he want to void it or not. If he wants to void it he cannot be bound to go further with this contract. If a minor wants he can rightfully dis-affirm any contract in which he enters.
According to the analysis, under this circumstance, Mr. kalen is not bound to the contract because he is still minor and he shows his disaffirmance of contract by returning the key to landlord. So he is not liable for the balance of the payments due under the lease.
Answer:
The correct answers are:
A) Common resource
B) Private good
C) Public good
Explanation:
A) Common resources are natural sources, goods or services that provide tangible benefits. In the example, even if the treadmill is inside a fitness room that is open to the public, it is not a public good itself because the treadmill can be used only once at the time.
B) Private goods are those that someone can claim for ownership. In the case, the new drone is only being lent by one person so the others take turns to use it but, it belongs to that very same person.
C) Public goods can be consumed by an individual without the need of taking away others the possibility of using them at the same time. The clock in the park can be freely used by anybody -at any moment- who is around that place.
Answer:
d. to better assign overhead costs to products
Explanation:
Activity-based costing is a method in which the overhead costs are assigned to the goods and this helps to create a relationship between the costs and the products to have a better understanding of the costs involved in the manufacturing process. According to this, the answer is that the best reason for using activity-based costing is to better assign overhead costs to products.
To increase their profit.
Even if the marginal cost is going up, as long as it is less than sales price the company can still make a profit. As the marginal cost continues to rise, that profit gets smaller and smaller but still exists and gives companies motivation to continue producing.
