Bob, an attorney, purchased licensed software from bill able inc. to prepare his clients' invoices online. the shrinkwrap packaging for the program disks and the software manuals contained limitations on remedies clause which limited buyer's remedies to the $50.00 purchase price of the software. bob later discovered that his invoices for the past year were too low due to a malfunction in the software, costing him over $10,000 in lost revenue. bob sues bill able inc. for breach of warranty. what is the likely result? a. bob wins because he did not have equal bargaining power with bill able, inc. b. bob wins because such shrinkwrap limitations of remedies clauses are generally unenforceable. c. bob loses because the court will likely view the limitations of remedies clause as conscionable and enforceable. d. bob loses because the disclaimer is effective.

Which term describes an alternative to car buying where monthly payments are paid for a specific period of time, after which the vehicle is returned to the dealership or bought? a. car financing b. car maintenance c. car leasing d. car ownership

Suppose there is a 6 percent increase in the price of good x and a resulting 6 percent decrease in the quantity of x demanded. price elasticity of demand for x is a. 0 b. 6 c. 1 d. 36

Suppose that a major city’s main thoroughfare, which is also an interstate highway, will be completely closed to traffic for two years, from january 2014 to december 2015, for reconstruction at a cost of $535 million. if the construction company were to keep the highway open for traffic during construction, the highway reconstruction project would take much longer and be more expensive. suppose that construction would take four years if the highway were kept open, at a total cost of $800 million. the state department of transportation had to make its decision in 2014, one year before the start of construction (so that the first payment was one year away). so the department of transportation had the following choices: (i) close the highway during construction, at an annual cost of $267.5 million per year for two years. (ii) keep the highway open during construction, at an annual cost of $200 million per year for four years. now suppose the interest rate is 80%. calculate the present value of the costs incurred under each plan.