Brandon finds that Max Solutions can supply computers with the specific configuration he needs. His company enters into a contract with Max Solutions to provide 60 custom-built desktops at an agreed price. The contract between them will ensure each of the following, EXCEPT:
a. that Brandon's company does not back out and make a deal with someone else for a lower price.
b. Max Solutions does not sell the computers to another company for a higher price.
c. Max Solutions supplies the computers before the scheduled date of delivery.
d. Brandon's company compensates Max Solutions in case of cancellation of order at a later date.
C
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Starting from long-run equilibrium, an increase in autonomous investment results in ________ output in the short run and ________ output in the long run.
A. lower; potential B. higher; higher C. lower; higher D. higher; potential
If the value of price elasticity of demand for a good is equal to "?", it implies that the good has a ________ demand
A) perfectly elastic B) perfectly inelastic C) unit elastic D) relatively inelastic
Which of the following policies might create demand-pull inflation?
A. An increase in interest rates B. A decrease government spending C. A cut in taxes D. All of these policies could create demand-pull inflation
The inputs into the process of production are called factors of production.
Answer the following statement true (T) or false (F)