QUESTION 9Questionable Power Service (QPS) hires Ted's Repairs to winterize its electrical generation plants on January 1 for $25,000.No one from Ted's Repairs shows up, so QPS has to hire another company to do the job for $50,000. Questionable PowerService may recover from Ted's Repairs:01. Maximum Damages02 Punitive Damages03 Compensatory DamagesO4 Nominal DamagesQUESTION 10The perfect tender rule requires which of the following? More than one answer is possible.O the goods delivered must be exactly what was orderedO an Article 2 contractO the performing party must act in good faith and convey at least a substantial benefit to the customerO the services delivered must be exactly what was ordered

Questionable Power Service (QPS) hires Ted's Repairs to winterize its electncal generation plants on…

Answered: QUESTION 9 Questionable Power Service…

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

See similar textbooks

Similar questions

Question 2 (Mandatory) Which of the following conditions could result in discharge? Choose all that apply. If the contract is verbal | If one party changes their mind O If performance is too late If express conditions are not followed Question 3 (Mandatory) ( Which of the following statements about impossible contracts are true? Select all that apply. | The incapacity of a personal services contractor will discharge that contractor from performance. | Destruction of an item necessary for performance will result in discharge. | If performance is impossible, that duty is discharged. | If performance becomes illegal, the duty to perform is discharged. Question 4 (Mandatory) In which of the following situations would performance be impracticable? Select all that apply. | Performance becomes cost prohibitive OA personal services contractor died prior to performance Performance can be completed by a competitor for a lower cost. Performance becomes very difficult
There is a beer company and a bottling plant. The beer company can make 100 gallons of beer for $200. Note that 1 gallon is enough for 16 8-ounce cans. A canning company can can 1600 cans of beer for a cost of $0.25 each (including transportation costs). Canning services can be bought and sold on the open market for $0.50 per can. A can of beer sells for $1. A. Find the outside option profit for each firm Now imagine that the canning company can move near the beer company for $100. Doing this will decrease the cost off canning to $0.10 per can.Ex Ante B. What is the maximum total profit generated by both firms working to-gether? C. Find the nash bargaining profit for each firm.Ex PostNow assume that the canning company has moved. They can still sell theircanning services on the open market and doing so will still cost $0.25 per can. D. Find the new outside option for each firm. E. Find the new nash bargaining profit for each firm.
6. Alex Miller, Ic., sells car batteries to service stations for an average of $30 each. The variable cost of each battery is $20 and monthly fixed manufacturing costs total $10,000. Other monthly fixed costs of the company total $8,000.Required: a. What is the breakeven point in batteries?b. What is the margin of safety, assuming sales total $60,000?c. What is the breakeven level in batteries, assuming variable costs increase by 20%?d. What is the breakeven level in batteries, assuming the selling price goes up by 10%, fixed manufacturing costs decline by 10%, and other fixed costs decline by $100? *
Question 26 (1 point) Which of the following is an example of an economic barrier to entry? O A) Patent. B) Economies of scale. C) Licensing fee. D) Copyright. E) Sole ownership of a resource. Question 27 (1 point) Where is a monopolist's profit maximized? O A) Where marginal revenue is zero. B) Where average revenue equals average cost. C) Where average revenue equals marginal cost. D) Where marginal revenue equals marginal cost. E) Where marginal profit is maximum.
1-18 Katherine D’Ann is planning to finance her college education by selling programs at the football games for State University. There is a fixed cost of $400 for printing these programs, and the variable cost is $3. There is also a $1,000 fee that is paid to the university for the right to sell these programs. If Katherine was able to sell programs for $5 each, how many would she have to sell in order to break even?
2. Benson Chicken Corporation processes and packages chicken for grocery stores. It purchases chickens from farmers and processes them into two different products: chicken drumsticks and chicken steak. From a standard batch of 14,000 pounds of raw chicken that costs $7,450, the company produces two parts: 2,500 pounds of drumsticks and 4,500 pounds of breast for a processing cost of $2,466. The chicken breast is further processed into 3,700 pounds of steak for a processing cost of $1,700. The market price of drumsticks per pound is $1.40 and the market price per pound of chicken steak is $3.70. If Benson decided to sell chicken breast instead of chicken steak, the price per pound would be $2.20. a-3. If the drumsticks are producing a loss, should that product line be eliminated? The drumstick product line be eliminated. b-1. Reallocate the joint cost to the joint products, drumsticks and breasts, using relative market values as the allocation base. Total cost…
1. Assume you must choose between two mutually exclusive alternatives: A or B. The explicit benefit you receive from alternative A, bª, is equal to $100. And, the explicit cost of choosing alternative A, c*, is $80. Also, the explicit benefit to choosing alternative B, b", is $120. What is the accounting return for choosing alternative A, r^? Given r and b", what is the explicit cost that you are willingness to pay (WTP) for alternative B, WTP"? Please include the formulas from class in your answer. How would WTPB change ifr^ increased by $5? Explain. your Using the original set of values for explicit costs and benefits, what would be your economic return to choosing alternative How does this relate to the concept of consumer surplus? if the price that you were charged was $95? Please interpret.
A fruit stand owner rents a stall at the market for $255$⁢255. Each month, the owner spends $295$⁢295 for an accountant’s services and $695$⁢695 on fresh fruit. The fruit stand sells 135135 kilograms of fruit monthly at a price of $8$⁢8 per kilogram. Step 1 of 2: Calculate the fruit stand’s profit or loss. Write the exact answer; do not round. Use a minus sign to show losses if necessary.
2. For each of the following costs, identify the cost graph that best illustrates its cost behavior as the number of units produced increases. Not all graph have to be used and a graph can be used more than once. Graph 1 Graph 2 Graph 3 ° Activity Base O Activity Base o Activity Base Graph 4 Graph 5 O Activity Base O Activity Base FIGURE 20.2 Rent of warehouse of $10,000 per month Per-unit straight line depreciation costs a. b. с. Per-unit cost of direct materials d. Electricity costs of $5,000 per month plus $.0004 per kilawatt-hour е. Total direct labor cost
5. Rearden Metals is considering opening a strip mining operation to provide some of the raw materials needed in producing Rearden metal. The initial purchase of the land and the as- sociated costs of opening up mining operations will cost $100 million today. The mine is expected to generate $30 million worth of ore per year for the next 10 years. In 11 years, when the project is over, Rearden will need to spend $200 million to restore the land to its original pristine natural appearance. Which of the following is FALSE? A) Rearden should only use the NPV rule in this case to determine whether to make this investment. B) Rearden could use either the NPV rule or the IRR rule in this case, and will get the same answer regardless of the cost of capital. C) In this case, the NPV will not necessarily be decreasing in the cost of capital or discount rate used. D) Rearden should not use the payback rule in this example because it is likely to be mis- leading. E) Rearden could make a mistake…
A grain exporter needs 1.9 million bushels of wheat to export in the month of December. In August, they are fairly certain wheat prices are going to go up, so they want to lock in prices for November purchase. They decide to hedge and purchase December KC HRW contracts. In August, the December futures price is $8.9875 with a basis of -$0.09. Brokerage fees for each contract is $5.00 round turn. On November 15, December KC HRW futures are trading at $9.0475 per bushel and the cash price is $8.9975. What was the net price paid per bushel for this scenario?
Kindly assist on question 1 and 2 1The difference between zero accounting profit and zero economic profit is that. a) an economic profit of zero indicates a fair return because it includes the opportunity cost of a firms capital. b) an economic profit zero indicates unacceptable rate of return because it does not include the opportunity cost of a firms capital. c) an economic profit of zero indicates more than a fair return because it includes opportunity cost and explicit cost. d) an accounting profit of zero indicates a fair rate of return because it includes the opportunity cost of a firms capital. 2.If a corporation is sued and losses the lawsuit, it's liability to pay. a) is imposed on all stockholders, personally b) is imposed only on the corporate CEO and the board of directors. C) its limited to the assets held in the corporations name. d) is imposed on the bondholders of the corporation

SEE MORE QUESTIONS

Recommended textbooks for you

ENGR.ECONOMIC ANALYSIS

Economics

ISBN:

9780190931919

Author:

NEWNAN

Publisher:

Oxford University Press

Principles of Economics (12th Edition)

Economics

ISBN:

9780134078779

Author:

Karl E. Case, Ray C. Fair, Sharon E. Oster

Publisher:

PEARSON

Engineering Economy (17th Edition)

Economics

ISBN:

9780134870069

Author:

William G. Sullivan, Elin M. Wicks, C. Patrick Koelling

Publisher:

PEARSON

ENGR.ECONOMIC ANALYSIS

Economics

ISBN:

9780190931919

Author:

NEWNAN

Publisher:

Oxford University Press

Principles of Economics (12th Edition)

Economics

ISBN:

9780134078779

Author:

Karl E. Case, Ray C. Fair, Sharon E. Oster

Publisher:

PEARSON

Engineering Economy (17th Edition)

Economics

ISBN:

9780134870069

Author:

William G. Sullivan, Elin M. Wicks, C. Patrick Koelling

Publisher:

PEARSON

Principles of Economics (MindTap Course List)

Economics

ISBN:

9781305585126

Author:

N. Gregory Mankiw

Publisher:

Cengage Learning

Managerial Economics: A Problem Solving Approach

Economics

ISBN:

9781337106665

Author:

Luke M. Froeb, Brian T. McCann, Michael R. Ward, Mike Shor

Publisher:

Cengage Learning

Managerial Economics & Business Strategy (Mcgraw-…

Economics

ISBN:

9781259290619

Author:

Michael Baye, Jeff Prince

Publisher:

McGraw-Hill Education

SEE MORE TEXTBOOKS