Answer
The answer and procedures of the exercise are attached in the following archives.
Explanation
You will find the procedures, formulas or necessary explanations in the archive attached below. If you have any question ask and I will aclare your doubts kindly.
Answer:
Since this whole sales agreement is about a car, then it falls under the statute of frauds. Any sales contract or offer for any amount of $500 or more needs to be signed. We are not told the final price of the car, but if we consider that only the discount was $500, then we can assume that the price of the car was higher than that. Since the note was not signed, then the promise is not valid.
Answer: a. an equitable distribution of the burdens and rewards that society has to offer
Explanation: In the 21st century which is a time of creativity and innovation, justice is defined as an equitable distribution of the burdens and rewards that society has to offer. It is the ideal of fairness, impartiality, etc.; the state or characteristics of being just and fair, especially with regard to the punishment of wrongdoing.
Answer:
Qe 2
Pe 2
Demand price elasticity -0.60
Supplu price elasticity 3
i. It will decrease
As the demand as a more than proportionate price elasticity will overreact to the input price and their subsequent price increase with a reduce in consumption.
Explanation:
We equalize both to get the equilibrium quantity (Qe)
4 - 2/3Qe = 1 + 1/3Qe
Qe(2/3 + 1/3) = 4 - 1
Qe = 3
Then we solve for equilibrium price (Pe)
Pe = 4 - 2/3 x 3 = 4 - 2 = 2
Pe = 1 + 1/3 x 3 = 1 + 1 = 2
Price elasticity of demand at equilibrium:
variation in quantity / variation in price
we solve for Q when P = 3 and compare the variation
(1.33-3) / (3 - 2) = -1.66/1 = -1.66
Price elasticity of supply at equilibrium: ( 6 - 3) / (3 - 2) = 3 / 1 = 3
Answer:
Farm worker
Explanation:
Seasonal unemployment occurs due to a decrease in labor demand at particular times of the year. Some industries experience increased activities during specific seasons. Hotels and restaurants may experience a boom in holiday seasons, while Ski business may be closed during summer.
The farming business is seasonal. During winter, nothing much happens. Workers in this period are likely to be unemployed.
