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Ksivusya [100]
3 years ago
5

Fact pattern 33-1a berry indicates that she is acting as an agent on behalf of an unidentified client—cuisine catering, llc—when

she enters into a contract with désean. refer to fact pattern 33-1a. liability to désean for nonperformance of the contract may be imposed on
Business
1 answer:
posledela3 years ago
8 0
Liability to Desean for non performance of the contract may be imposed on BERRY AND CUISINE CATERING.
Berry is required by the law to perform the duties in the contract agreement, failure to do this will creates liability for Berry and in that case, both Berry and Cuisine catering will be liable, because Berry had said that she is working on behalf of Cusine catering, thus, Cusine catering is already a part of the contract.
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Suppose that in a year an American worker can produce 100 shirts or 20 computers and a Chinese worker can produce 100 shirts or
zubka84 [21]

Answer:

a. For each country, graph the production possibilities frontier. Suppose that without trade the workers in each country spend half their time producing each good. Identify this point in your graphs.

  • attached graph

b. Who has the comparative advantage in the production of shirts? What about for computers?

  • China has the comparative advantage in the production of shirts, while the US has the comparative advantage in the production of computers.

c. If these countries were open to trade, which country would export shirts? Give a specific numerical example and show it on your graphs. Which country would benefit from trade?

  • China would export 50 million shirts in exchange for 5 million computers (or more if they can). Trade would benefit the US since it will only need to trade 5 million computers in exchange for 50 million shirts, and it will still have 15 million computers that it can consume or trade with come other country.

d. Explain at what price of computers (in terms of shirts) the two countries might trade.

  • the minimum and maximum prices would be 5 to 10 shirts per computer. If the price of shirts per computer is 10 or near 10, then the US wins more. If the price of shirts per computer is 5 or near 5, then China wins more.

Explanation:

opportunity cost of producing 1 shirt in the US = 20/100 = 0.2 computers

opportunity cost of producing 1 computer in the US = 100/20 = 5 shirts

opportunity cost of producing 1 shirt in China = 10/100 = 0.1 computers

opportunity cost of producing 1 computer in China = 100/10 = 10 shirts

without trade:

  • total production of shirts in the US = 50 million
  • total production of computer in the US = 10 million

  • total production of shirts in China = 50 million
  • total production of computer in China = 5 million

with trade:

  • total production of computers in the US = 20 million
  • total production of shirts in China = 100 million

8 0
3 years ago
At december 31, gill co. reported accounts receivable of $244,000 and an allowance for uncollectible accounts of $1,350 (credit)
konstantin123 [22]
Given:
<span>accounts receivable of $244,000
allowance for uncollectible accounts of $1,350 (credit)

1% of the accounts receivable should be the value of the allowance for uncollectible accounts. 

244,000 x 1% = 2,440

2,440 - 1,350 = 1,090

Adjusting entry:
                                           Debit                    Credit
Bad Debt Expense             1,090
        Allowance for uncollectible accounts       1,090</span>
4 0
3 years ago
The ______ argues that combining location specific assets or resource endowments and the firm's own unique assets often requires
bulgar [2K]

Answer:

The <u>eclectic paradigm</u> argues that combining location specific assets or resource endowments and the firm's own unique assets often requires FDI.

8 0
2 years ago
In order to minimize the difficulty associated with meeting monthly loan payments, the debt service ratio should be __________.
Andre45 [30]
In order to minimize the difficulty associated with meeting monthly loan payment, the debt service ratio should be : Below 35 %

This Ratio showed that your annual monthly income still able to cover up your loan payments after considering your housing and other expenses for your daily lives
8 0
3 years ago
What would $250000 make per year in a savings account?
Mumz [18]
It would make you $7,500

because banks usually pay a person $0.03 for every dollar

250,000 times .03 equals 7,500
6 0
3 years ago
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