(Q19- Q25)If the following explanation (or expression) is correct, please indicate "True (T)". Or, if the following explanation (orexpression) is wrong, please indicate "False (F)".Q19Sales Contract (for international trade) is a sort of master agreement for continued transaction.AnswerQ20Documentary Letter of Credit (L/C) requires the evidences for the shipment of the goods such as commercial invoicesand transport documents, etc.AnswerQ21Clean L/C doesn't require financial documents such as bills.Q22AnswerRevocable L/C is available to international trade under UCP 600.Answer

An international sales contract refers to an agreement between a seller and a buyer that identifies…

Q19 Sales Contract (for international trade) is a sort of master agreement for continued transaction. Q20 Answer Documentary Letter of Credit (L/C) requires the evidences for the shipment of the goods such as commercial invoices and transport documents, etc. Answer Q21 Clean L/C doesn't require financial documents such as bills. Answer

Q19 Sales Contract (for international trade) is a sort of master agreement for continued transaction. Q20 Answer Documentary Letter of Credit (L/C) requires the evidences for the shipment of the goods such as commercial invoices and transport documents, etc. Answer Q21 Clean L/C doesn't require financial documents such as bills. Answer

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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A local insurance company offers both home and auto insurance to four types of customers with the reservation prices listed in the figure below. Assume for simplicity that there is only one consumer of each type. Home Auto Bundle Customer A $90 $67 $157 Customer B Customer C Customer D $117 $87 $204 $103 $77 $180 $83 $52 $135 If the firm were to sell home and auto insurance separately, it would charge $83 for home insurance, $52 for auto insurance, and earn a combined revenue of $540. Determine the revenue the firm would receive if it used a pure bundle. Comparing the revenue of the pure bundle to the revenue of selling home and auto insurance separately, we can conclude that the reservation prices of the consumers must: O A. have no correlation B. be positively correlated C. be negatively correlated D. be serially correlated
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