A misrepresentation of fact may occur in a contract, by silence, when: (Choose 2 answers.)when the seller knows there is an obvious defect in a productwhen the buyer is unsophisticatedthe seller knows of a serious problem that the buyer in unlikely able to discovera party is under a duty to speak (such as a professional from whom the other party is seeking an opinion)

Step 1:These situations impose a legal duty to disclose, and failure to do so can result in…

Answered: A misrepresentation of fact may occur…

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Give explanation of correct option and explanation of incorrect options. Hand written solutions are strictly prohibited.
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Question 4. According to the textbook, when a supervisor tells someone that his or her performance is poor, the first reaction is often denial. anger. an emotional display. aggression. changing the subject.
Question 3 Consider the following airline capacity allocation problem with buy-up. The total capacity is 100.There are three classes. All class demands follow normal distribution. The fare prices and demand statistics are given as follows: Class Fare Mean Std. Dev. 1 1000 17 6 2 900 45 15 3 500 90 20 Suppose that if a class 3 demand is rejected booking, each individual has a probability of 0.3 to become a class 2 demand; and if a class 2 demand is rejected booking, each individual has a probability of 0.2 to become a class 1 demand. The airline company needs to determine the nested protection levels. Use @risk simulation optimization tofind the optimal decisions. (Please round all the simulated numbers and solutions to the nearest integer.)
Which of the following are true about remedies? 1) Specific performance is only available for goods that are easily replaced. 2) A warranty is a contract term that entitles a party to rescission of the contract. 3) 4) Recission goes backwards, money or property is returned; damages goes forwards, meaning the plaintiff claims their loss of profit. According to the principle of remoteness, if unusual circumstances were not communicated to the offending party at the time the contract was formed, damages for the unusual circumstances are not recoverable by the plaintiff. 5) A person claiming frustration must establish that the event arose without either party's fault. 6) Everyone who suffers a breach of contract has a duty to mitigate.
The market for lemons refers to a situation where sellers are better informed than buyers about the quality of the good for sale, like used cars. While sellers know the true quality of the car, buyers can’t distinguish the good cars from the bad cars (a.k.a. lemons). Consequently, from the buyer's perspective, there is a 50-50 chance that cars are either high or low quality, and therefore they will perceive all cars as medium quality cars. Which of the following statements are true? Multiple Choice From the seller's point of view, the price that buyers are willing to pay is too low. Therefore, they will find it difficult to sell their cars at "true" value. For the sellers who are selling lemons, the offered price will be higher than what they have expected. Therefore, they will sell lemons to the buyers at a higher price. Because buyers perceive all cars as medium quality cars they will pay a price that is between the price of good cars and the price of lemons.…
Eddie Confess Sharon OD) Keep quiet 25 years in jail 40 years in jail Confess 25 years in jail Goes free Goes free 2 years in jail Keep quiet 40 years in jail 2 years in jail he spends the same time in jail by confessing than he would by not confessing. he spends more time in jail if he confesses, regardless of whether Sharon confesses or keeps quiet. he spends less time in jail if he confesses, regardless of whether Sharon confesses or keeps quiet. OA) OB) Sharon's dominant strategy is to keep quiet. O c)
Many times, organizations will layer corporations by using holding companies that wholly own subsidiaries below them. This may be done for tax advantages, and also for (to): Group of answer choices multiple layers of liability protection pay more taxes ensure more liability exposure commit fraud with no recourse to the victims
True or False: A market may collapse and have relatively few transactions between buyers and sellers if buyers have more information than sellers.
Note:- Do not provide handwritten solution. Maintain accuracy and quality in your answer. Take care of plagiarism. Answer completely. You will get up vote for sure.
Note:- Do not provide handwritten solution. Maintain accuracy and quality in your answer. Take care of plagiarism. Answer completely. You will get up vote for sure.
Note:- Do not provide handwritten solution. Maintain accuracy and quality in your answer. Take care of plagiarism. Answer completely. You will get up vote for sure.

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