Which statement is NOT true regarding the outcome of Hadley v Baxandale? 1) The owner of the mill recovers lost profits for the days that Baxandale's (repairer) breach of contract kept him from doing business. 2) The mill owner had only one crank shaft that he entrusted to Baxandale. 3) Baxandale clearly breached the terms of the contract to repair and return in the shaft in a timely way. 4) A new trial was ordered.

Which statement is NOT true regarding the outcome of Hadley v Baxandale? 1) The owner of the mill recovers lost profits for the days that Baxandale's (repairer) breach of contract kept him from doing business. 2) The mill owner had only one crank shaft that he entrusted to Baxandale. 3) Baxandale clearly breached the terms of the contract to repair and return in the shaft in a timely way. 4) A new trial was ordered.

Managerial Economics: Applications, Strategies and Tactics (MindTap Course List)

14th Edition

ISBN:9781305506381

Author:James R. McGuigan, R. Charles Moyer, Frederick H.deB. Harris

Publisher:James R. McGuigan, R. Charles Moyer, Frederick H.deB. Harris

Chapter10: Prices, Output, And Strategy: Pure And Monopolistic Competition

Section: Chapter Questions

Problem 3E

See similar textbooks

Similar questions

You are managing sports apparel sales. The way contracts are writlen, you purchase the rights to buy a fixed block of copyrighted materials for a negotiated price for a given yoar. You then sell these materials through your channels and try to make the moat possible. Apparel sales are automated through online channels so the additional cost of selling a given unit is negligible. In other words, the cost structure is relatively fixed no matter how many units you sell. What is an aporopriate optimization target for this type of cost structure and what will elasticity equal if you optimize prices well?
Tropical Leisure Limited has been making high quality Caribbean leisure wears for over twenty-fiveyears, in old rented premises located in the heart of the Barbadian capital of Bridgetown. Thecompany has a flexible labour force of about twenty employees and three directors, only one ofwhom, namely Mr. Grant, the managing director, is fully active in the business.The company specializes in leisure and swim wear garments. Their current range consists of teeshirts, shorts, skirts and bath suits in rich vibrant Caribbean colours and styles for men, women andchildren. The company capacity is 400-500 garments per week, depending on style and continuityof the production run, but additional floor space and machines could be brought in quickly to raiseproduction levels to a maximum of 1000 garments weekly if required.Trade sources estimated that the Barbadian market was valued at US$ 1.5 billion in 2010 but sincethen inflation and recession has deflated the market, resulting in many smaller…
O O 971 5:39 Total Cost Output (Units) ($) 50 10 120 20 170 30 210 40 260 50 330 60 430 Total costs include a "normal" return on the time (labor services) and capital that the owner has invested in the firm. The prevailing market price is $7 per unit. (a) Prepare (i) marginal cost and (ii) average total cost schedules for the firm. (b) What is the firm's profit maximizing output level? Is the industry in long-run equilibrium? Justify your answer.
Bob Mills Inc. markets office furniture but does not manufacture it. The company orders the furniture from the manufacturer only when a customer makes a purchase. The manufacturer delivers it directly to the customer. Bringing together materials when they are needed is called production. O A. ISO 9000 B. ISO 14000 OC. just-in-time O D. supply chain management O E. total quality management
o This quertion is continuahs time.) camed with fü canting in Con patent which is able to profit otream' of T(E)= eot where E(>) denotes time, and o (0) is g jiven par ame ter. Notice that' ū CH) stante from 1 (ū Lo) =1) and slowly fecveacer to'o I Ct)=0), The jiven parameter o Suppost y ou generate Own Cim astmally the rate of decrearing since is dace)/ dt fror patent is ,certainly valmable asset. Asumina the ime tantume ond interent, rate Cou tant r Caleul ate Hae present value f your pabent.
As an international manager of a US business that has just developed, I would export the computer from the US because I will have full control of how the computer will be manufactured and distributed to Europe. Another pro that I would consider to export from the US is that the patent would be able to protect the design of the computer, which will reduce the result of the property being an infringement. A con from exporting from the United States that it would cost more money from the taxes, duties, and the trade barriers that are from Western Europe. Another con would be that it would take much longer to exist something from over seas. First, I will start with the cons of the process where you might not have full control over the manufacturing process, which can really impact the product of the computer. This can significantly be a bad idea. A pro of having to license a European firm to manufacture and market the computer in Europe would be how they know all of the distribution…
Many companies outsource some or all of their information syste services both to vendors in the United State and offshore vendors in countries like India. Which answer below is a valid reason why companies chose NOT to outsource? O A. To free up time for management O B. To obtain expertise the company currently does not have OC. To obtain additional resources that can be let go after a project is complete O D. To keep intellectual capital in house
Consider the case of a manufacturing company which produces and sells brand pens. The selling price is $20 per pen, the total fixed operating cost is $2 million, and the variable cost per unit is $10, the total fixed financing cost is $500,000. How many pens should the company sells so it would neither make a profit or loss? O a. 4,000,000 O b. 20,000,000 O c. 200,000 O d. 25,000 O e. 2,500,000
Tricia is a computer programmer who earned $30,000 in 2019. But on January 1, 2020 Tricia opened a landscaping business. At the end of the first year of operation, she submitted the information on the right to her accountant. The accountant recorded the depreciation on Tricia's cottage during 2020 as $9,000. According to the accountant, what profit did Tricia make? According to the accountant, Tricia's profit is O A. $111,500 B. $26,000 C. $60,900 D. $35,000 Question Facts Tricia stopped renting out her cottage for $4,500 a year and used it as her business premises. 2. The market value of the cottage increased from $94,000 to $104,000. She spent $10,000 on materials, phone, utilities, etc. She leased machines for $1,000 a year. 1. 3. 4. 5. 6. She paid $7,500 in wages. She used $5,000 from her savings account, which earns 2 percent a year interest. 7. She borrowed $10,000 at 10 percent a year from the bank. She sold $140,000 worth of landscaping. Normal profit is $35,000 a year. 8. 9.
Logan and Berkeley havea thriving dog grooming business which operates 5 hours a day for 4 days a week. They currently have one dog groomer and are considering hiring a second groomer. They believe that after a 12 week period, the second groomer should be able to groom 3 dogs per hour, but only groom 1 dog per hour inthe frst 12 weeks while they learn the ropes. By adding a second groomer, Logan and Berkeley would need to install an additional sink, costing $20,000, and also incur an additional $27 per hour in labour costs. Apart from labour, their current costs are $15 per dog groom (coveringitems such as dog shampoo) and $30,000 in fixed costs per year (eg. rent). They currently charge $50 per dog groom. How many weeks would it take for the second groomer to pay off and make a profit? A 116 B 23.6 C 37.7 D 49.7
1. A company cannot create another company. O A) True O B) False 2. For Nike Inc. to conduct business in Dominica it must be incorporated under a statute. O A) True O B) False 3. A private company can be incorporated by namin three (3) directors. O A) True O B) False 4. The court, as well as shareholders, can deem that an indiviual is disqualified from being a director. O A) True O B) False 5. Directors of a company have the power to appoint other directors of that company. O A) True O B) False
7. A car manufacturer builds both left-hand and right-hand drive cars. It estimates that its costs and the demand faced in each of these respective markets can be modelled by the functions below P1 = 520 – 3Q1 P, = 720 – 4Q2 - TC = 100Q1 + 120Q2 + 4Q1Q2 What is the maximum profit the firm could make? O 24300 O 24800 25300 25800 26500 O0000