Does possible misuse constitute a waiver of the implied warranties? Consider the case of a lessee of a car who after 18 months found the car was running roughly. When taking the car back to the dealership, the lessee was told that several valves in the engine were bent due to misuse by the lessee. The lessee refused to pay the bill of $500+, claiming that it should be covered under the warranties. The car dealership's position was that misuse constituted a waiver of the warranties. [LaBella v. Charlies Thomas, Inc., and Mercedes-Benz of North America, 942 S. W2d 127.]

In a perfectly competitive market, the long-run market supply curve tends to be horizontal or nearly so. what is another way to state this fact? (a) market supply is much more elastic in the long run than the short run. (b) in the long run, average total cost is minimized. (c) in the long run, price equals marginal cost. (d) market supply is much less elastic in the long run than the short run.

The demand curve determines equilibrium price in a market. is a graphical representation of the relationship between price and quantity demanded. depicts the relationship between production costs and output. is a graphical representation of the relationship between price and quantity supplied.

Identify whether the statements are true or false by dragging and dropping the appropriate term into the bin provided. long-run economic growth is unlikely to be sustainable because of finite natural resources. in the modern economy, countries that possess few domestic natural resources essentially have no chance to develop economically. finding alternatives to natural resources will be very important to long-term economic growth. in the modern economy, human and physical capital are generally less important in productivity than natural resources. in the 19th century, countries with the highest per capita gdp were nearly always abundant in minerals and productive farming land.