Drake, a general contractor, received a bid from Vic's Paving, a subcontractor for a construction job and relied upon their bid when placing his own bid to win the contract offered by the local school district to build the new elementary school. Drake then contacted Vic to enter into a contract to do the paving work for the job. Vic told Drake that his bid was $5,000 short and that he could not move forward at that price. Vic demanded the extra $5,000. An irate Drake, found an alternate subcontractor to do the work for $2,000 more instead. Drake sued Vic for the $2,000. Evaluate their legal positions.

mauve company permits employees to occasionally use the copying machine for personal purposes

answer; is the sum of all individual demands curves;

the answer is "b.the increased supply will create a surplus. "

the essential thought behind price controls is straightforward - utilize the power of law to modify the equilibrium of a market. for instance, the legislature may choose that the steel business needs to survive, and in this way pass a law to set a value floor on steel. this implies all steel sold must offer at or over the floor value, which must be set over the equilibrium cost for it to have any impact. the switch could likewise happen - the administration can choose that steel is excessively costly and set a value roof underneath its equilibrium value, with the goal that all steel must be sold at or beneath that ceiling.

the correct choice is a