When Richard opened The Kite Hut, he charged $7 for kites and could not keep up with demand. The Kite Hut has raised the price to $10, and now Richard is still selling all the kites he carries, but he is not forced to reorder on a daily basis. The $10 price is probably which of the following?
a. a price equilibrium
b. an inelastic price
c. a symmetrical price
d. an inventory equalizer
Ans: a. a price equilibrium
Business
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Winston, the insured, and his spouse, Irene, his sole beneficiary, both died in a hotel fire. Hospital physicians witnessed that Irene lived at least 2 hours longer than Winston. The life policy had no common disaster clause. Which of the following will receive the policy proceeds?
A) Irene's estate B) Winston's estate C) Winston's secondary beneficiary D) The state"
Business
A relationship is diagrammed below using the [Min, Max] notation. Which of the diagrams below represents the same relationship using the "crow's feet" notation?
A)
