2. lessack auctioneers advertised an auction sale that was open to the public and was to be conducted with a reserve price of $150. gordon attended the auction and bid $100 for a work of art that was worth much more. no higher bid, however, was made. lessack refused to sell the item for $100 and withdrew the item from the sale. gordon claimed that because he was the highest bidder, lessack was required to sell the item to him. was he correct? explain

Last week, linda's commission check was $84. if she earns a 12.5% commission on sales, what were her total sales?

Acompany's income statement showed the following: net income, $145,000 and depreciation expense, $36,300. an examination of the company's current assets and current liabilities showed the following changes as a result of operating activities: accounts receivable decreased $11,500; merchandise inventory increased $22,200; and accounts payable increased $5,500. calculate the net cash provided or used by operating activities. $209,500 $139,000 $176,100 $186,500 $142,100

Suppose general motors demands labor according to the labor demand function 푤푤= 40−0. 5퐸퐸, where 푤푤 is the hourly wage and 퐸퐸 is the number of employees. the united auto workers union has a utility function given by 푈푈=푊푊∗퐸퐸. a. in 1984, the united auto workers union started negotiations with general motors by assuming that they were a monopoly union. find the wage and employment demands that the united auto workers union would have demanded before any bargaining began. b. if general motors and the united auto workers union both had excellent bargaining representatives, would this be the final labor contract? if not, then explain in words and graphically where they would end up after the bargaining process.