Sheila is walking along the street and discovers a document…

Sheila is walking along the street and discovers a document on the side of the road. The document provides that one party will deliver a couch to the other party. Only the seller’s name, Percy, is provided. In the document, and there are no signatures. Sheila decides to sign the document and force Percy to deliver the couch. If Sheila sued, which of the following is the most likely outcome?

10-year-old Kermit walks into a toy store, TOYS 4 US!, to bu…

10-year-old Kermit walks into a toy store, TOYS 4 US!, to buy a cool new dump truck with his birthday savings. Two days later, the truck Kermit bought was deemed collectable (a collector’s item) and thus began selling on eBay for triple the price Kermit had paid. The TOYS 4 US! manager realizes this and attempts to cancel the contract he made with Kermit. Will this cancellation be successful? Why or why not?

Table 16-3Tommy’s Tie Company, a monopolist, has the followi…

Table 16-3Tommy’s Tie Company, a monopolist, has the following cost and revenue information. Assume that Tommy’s is able to engage in perfect price discrimination.​ Costs Quantity   Total MarginalProduced  Cost      Cost(Units) (Dollars) (Dollars) RevenuesQuantity Demanded                                                   Total      Marginal                                              Price                             Revenue  Revenue(Units)                     (Dollars per unit)                     (Dollars)  (Dollars) 0 100 – 0 170     1 140   1 160     2 184   2 150     3 230   3 140     4 280   4 130     5 335   5 120     6 395   6 110     7 475   7 100     8 575   8 95     ​ Refer to Table 16-3. If the monopolist can engage in perfect price discrimination, what is the marginal revenue from selling the 5th tie?