Michelle's Boutique places an ad in the Sunday paper for beautiful, top-of-the-line designer suits for $3.00 . Alice sees the ad in the paper and goes to the store to stock up on business suits for her new job. Michelle apologizes for the misprint. Alice has just finished a class in contract law and insists that the store sell her five suits for $15 . Alice threatens to sue Michelle for breach of
contract.
a. This is a valid contract based on commercial reasonableness.
b. The ad in the newspaper is an offer to sell, Alice accepted the offer, and there is an enforceable contract.
c. The ad in the newspaper is a solicitation seeking offers, but is not an offer to sell; therefore, Alice will not be able to successfully sue for breach of contract.
d. None of these.
c
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In January, Cigaro Corp agrees to a contract to sell 14,000 sports caps for $140,000 to Dilly, Inc In March, after 5,000 caps have been delivered, Cigaro and Dilly modify the agreement to sell an additional 6,000 caps for $33,000 which is significantly lower than Cigaro's stand-alone selling price at that time. During April, Cigaro delivers 2,000 caps. How much revenue will Cigaro recognize for
the month of April? A) $17,300 B) $16,400 C) $15,500 D) $11,000
Which of the following pricing strategies charges the same price plus freight to all customers, regardless of their location?
A) basing-point pricing B) freight-absorption pricing C) FOB-origin pricing D) zone pricing E) uniform-delivered pricing
When the choice of replacements is limited in a family-owned business, the owner may broaden a manager's job specification in order to utilize him/her effectively.
Answer the following statement true (T) or false (F)
Consider the Demand for Microwave Ovens data set. What is the total demand corresponding to random numbers 9, 9, 16, 61, 51, and 31?
A. 7
B. 9
C. 5
D. 11