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2 years ago

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RV Company agrees to buy a certain quantity of vintage campers from Sales Inc. Their contract limits consequential damages for l

ost profits resulting from the use of the goods. This limit is not necessarily unconscionable because

1 answer:

Aleks [24]2 years ago

4 0

Answer:

consequential damages cover only reasonable foreseeable losses.

Explanation:

The contract limits the resulting loss to lost profits from the use of the goods. The limit is not necessarily unconscious because lost profits are not necessarily significant and can be considered as direct or indirect losses.
the contract may apply to both the lease and the sale and excluding some from the contract simply because it is a commercial loss makes no sense.
so limit is not necessarily unconscionable because consequential damages cover only reasonable foreseeable losses.

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Entrepreneurial team is a group of experienced people from different areas of business who join together to form a managerial team with the skills needed to develop, make, and market a new product.

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They are usually from different areas of business with necessary skills for the work.

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11 months ago

Both perfectly competitive and monopolistically competitive firms charge a price equal to marginal cost.

natita [175]

Both perfectly competitive and monopolistically competitive firms charge a price equal to marginal cost True

What is a perfect competitive firm?

A perfectly competitive firm is a price taker, which means that it must accept the equilibrium price at which it sells goods. If a perfectly competitive firm attempts to charge even a tiny amount more than the market price, it will be unable to make any sales.

What is the advantage of perfect competition?

Markets experiencing perfect competition have very low barriers to entry. The advantage is for both customers and the total industry. There will be new entrants in the market which brings healthy competition to the industry. Also, consumers will not be a risk when a few companies get together and increase their prices.

What is monopolistic competition:

Monopolistic competition exists when many companies offer competing products or services that are similar, but not perfect, substitutes. The barriers to entry in a monopolistic competitive industry are low, and the decisions of any one firm do not directly affect its competitors.

What is monopolistic competition characteristics?

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1 year ago

Would you prefer to buy an existing business or start from scratch? Why?

vladimir2022 [97]

Answer:

I would start from scratch Because It helps u feel accomplished about your work

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2 years ago

Happy Company wants to raise $2 million with debt financing. The funds are needed to finance working capital, and the firm will

shepuryov [24]

Explanation:

Happy Company will consider both capital expenses and foreign exchange threats.

If Happy's calculations are right, borrowing from Minland Bank is the best choice.

However, since forecasts are based solely on estimation, the choice is still centered on Happy Company's risk appetite, whether to take an 8 per cent flat rate, a strong 14 per cent rate, but with a chance of decline or a small 5 per cent rate, but with a possibility of appreciation.

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2 years ago

Suppose that the duopolists Carl and Simon face an inverse demand function for pumpkins of P = 400 - Q, where Q = Qs + Qc is the

Usimov [2.4K]

Answer:

the Cournot-Nash equilibrium, Simon's production is 82 units

Explanation:

The Cournot-Nash Equilibrium for Simon's production is calculated as follows:

$P = 400 - Q \\ \\ Q = Q_s + Q_c$

Reaction function of Carl is as follows:

Carl maximize profit at $HR_c = HC_c$

$TR_c = P*Q_c$

$TR_c = (400 -Q_s -Q_c)Q_c$

$TR_c = 400Q_c -Q_sQ_c -Q_c^2$

⇒ $HR_c = \delta TR_c/ \delta Q_c$

$HR_c =400 -Q_s -2 Q_c$

$C_c = 30 Q_c + Q_c^2$

⇒ $HC_c = \delta C_c/ \delta Q_c$

$HC_c =30+2Q_c$

Set $HR_c = HC_c$

$400 - Q_s - 2 Q_c = 30 - 2Q_c \\ \\ 400 - Q_s -30 = 2Q_c + 2Q_c \\\\(370 Q_s) = 4 Q_c \\ \\ Q_c = (370-Q_s)/4 \\ \\ Q_c = 92.5 - 0.25 Q_s \to Reaction \ function \ of \ Carl --- equation (1)$

Reaction function of Simon

Since Simon maximize profit at $HR_s = HC_s$

$TR_s = PQ_s \\ \\ TR_s = (400-Q_c -Q_s)Q_s \\ \\ TR_s = 400 Q_s - Q_cQ_s - Q_s^2$

$HR_s = \delta TR_s/ \delta Q_s$

$HR_s =400 - Q_c -2Q_s$

$C_s = Q_s^2$

$HC_s= \delta C_s/ \delta Q_s$

$HC_s=2Q_s$

Set $HR_s = HC_s$

$400- Q_c - 2Q_s = 2Q_s \\ \\ 400 - Q_c = 2Q_s+2Q_s \\ \\ 4Q_s = 400 - Q_c \\ \\ Q_s = (4000- Q_c)/4 \\ \\ Q_s = 100 -0.25 Q_c --- Reaction \ function \ of \ Simon \ -- equation (2)$

Substituting equation (1) into equation (2)

$Q_s =100 -0.25Q_c \\ \\ Q_s = 100 - 0.25(92.5-0.25 Q_s) \\ \\ Q_s = 100 -23.125 +0.0625Q_s \\ \\ (Q_s-0.0625Q_s) = 76.375 \\ \\ 0.9375 Q_s = 76.875 \\ \\ Q_s = 76.375/0.9375 \\ \\ Q_s = 82$

Thus; the Cournot-Nash equilibrium, Simon's production is 82 units

3 0

2 years ago