Answer:
a. No. A state court will do a better job in this case because it exercises unlimited jurisdiction. Moreover, you can only bring your case to a federal court if the amount of your claim is up to $75,000 or the issue is exclusive to the federal court. This is not the case here.
b. Yes and No. We need some additional information about the accident location to help answer this question definitively.
c. No. You should not consider accepting the offered settlement. The jury award is meant to pay for your medical bills and also to help you recover financially as though the accident did not happen in the first place. Accepting any lesser amount after the judgment is rendered is in bad taste. The other party should have negotiated to settle out of court before the final judgment was rendered. But it did not. So, go with the jury award.
Explanation:
a) Data and Calculations:
Missed work for 15 weeks
Total medical bills incurred = $50,000
Total lost wages incurred = $15,000
Jury award = $100,000 ($50,000 for medical, $15,000 for lost wages and $35,000 for punitive damages)
Settlement offer = $50,000
True - The tomato exhibits characteristics of a perfectly competitive market. Firstly, it is made up of many buyers and sellers. Secondly, all firms that partake in the trade do not control the market. Instead, they are price takers. As such, they sell tomatoes according to the prevailing market prices per unit of tomatoes. All firms also have a relatively small market share.
Answer: $8500
Explanation:
The total administrative expense allocated to the Meats department will be calculated thus:
= (Total administrative expense/Total Sales in square Feet) × Meat Department sales in Square Feet
= (17000/3200) × 1600
= $8500
The total administrative expense allocated to the Meats department is $8500.
Answer:
Increasing the promotional budget for a product in order to increase awareness is not advisable in the short run under which of the following circumstances?
Production capacity is maxed out (200% plant utilization) and the company is stocking out of the product.
Explanation:
Since the production capacity has been exceeded and the company is still running out of stock of the product, there will be no need to increase the promotional budget for the product in order to increase awareness, especially in the short-run. The implication of the scenario is that the demand for the product is far outstripping the supply and there is an apparent scarcity or shortage of the entity's product in the marketplace. Until production the capacity has been expanded, the promotional budget for product awareness can be stopped and saved.
You would have to divide the number of bushels by the price.
