You are the manager of a firm that competes against four other firms by bidding for government contracts. while you believe your product is better than the competition's, the government purchasing agent views the products as identical and purchases from the firm offering the best price. total government demand is q = 1,000 − 5p, and all five firms produce at a constant marginal cost of $60. for security reasons, the government has imposed restrictions that permit a maximum of five firms to compete in this market; thus, entry by new

Awidower devised his fee simple interest in his residence as follows: “to my daughter for life, then to my oldest grandchild who survives her.” at the time of the widower’s death, he was survived by his only two children, a son and a daughter, and by one grandchild, his daughter’s son. a short time later, the daughter together with her son entered into a contract to sell the residence in fee simple to a buyer. the applicable jurisdiction continues to follow the common law rule against perpetuities, but has abrogated the rule in shelley’s case. at the closing, the buyer refused to purchase the residence. can the sellers compel the buyer to do so?

12. to produce a textured purée, you would use a/an a. food processor. b. wide-mesh sieve. c. immersion blender d. food mill.

Aprimary advantage of organizing economic activity within firms is thea. ability to coordinate highly complex tasks to allow for specialized division of labor. b. low administrative costs because of reduced bureaucracy. c. eradication of the principal-agent problem. d. high-powered incentive to work as salaried employees for an existing firm.