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An advertisement containing certain terms to get a reward constituted a binding offer, Explanation: In this it was held that an advertisement containing certain terms to get a reward constituted a binding unilateral offer that could be accepted by anyone who performed its terms.
With fixed costs of $400, a firm has average total costs of $3 and average variable costs of $2.50. Its output is:
If the market demand is given by Q=250-50p and supply Q=25p+25 then what is equilibrium price in market
What is the saddle point for the following zero sum game?