Suppose the government sets a price floor that is above the equilibrium price for a given good. It can be said that at the price floor, a. both sellers and buyers are satisfied with the quantity that is being exchanged. b. although consumers are purchasing all of the product that they desire at this price, the sellers are not selling all that they desire. c. both sellers and buyers are exchanging the equilibrium quantity of this good. d. although sellers are selling all of the product that they desire at this price, the consumers are not able to buy all that they desire.

Betty contracted with scooby’s skate store to deliver a pair of skates to jake for his birthday. scooby’s owner was going on a trip and delegated the delivery of the skates to brian. brian failed to make delivery. can jake sue brian for breach of contract, as he was not a party to the original contract? explain your answer. brian was not a party to the original contract. why would a court hold him responsible for failing to make delivery? if you do not think a court would hold him responsible, explain your answer. can jake sue scooby’s skates for breach of contract? explain your answer.

Tri fecta, a partnership, had revenues of $369,000 in its first year of operations. the partnership has not collected on $45,000 of its sales and still owes $39,500 on $155,000 of merchandise it purchased. there was no inventory on hand at the end of the year. the partnership paid $27,000 in salaries. the partners invested $48,000 in the business and $23,000 was borrowed on a five-year note. the partnership paid $2,070 in interest that was the amount owed for the year and paid $9,500 for a two-year insurance policy on the first day of business. compute net income for the first year for tri fecta.

How is the role of government determined in the american free enterprise system?