An illusory promise can be defined as a ________
A) contract providing that only one of the parties need perform, only if he or she chooses to do so
B) contract not supported by consideration since the promise is supported by an illegal act
C) promise that lacks consideration since the person promises to perform an act or do something she already has an obligation to do
D) contract based on love and affection
A
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A financial services firm has several loyal customers who conduct business with them exclusively
However, the company has noticed that this customer group is the least profitable for the company, and in some cases, it increases their losses when engaging in business with this group. Which of the following customer groups is being referred to in this scenario? A) butterflies B) true friends C) strangers D) barnacles E) cash cows
A local lamp store expects to sell 2000 lamps in the coming year. It costs the store $1.00 in carrying costs for each
lamp and $10.00 for each order placed. a. What is the economic order quantity for the lamps? b. How many orders will be placed each year? c. If the store wants a one-week safety stock and it takes one week to receive an order after it has been placed, what should the inventory level be when a new order is placed? Assume a 50-week year.