Rnold kazery was the owner of a hotel leased to george wilkinson. the lease included renewal options of ten years each. when arnold transferred his interest in the property to his son, sam, no one notified wilkinson. for the next twenty years, wilkinson paid the rent to arnold and renewed the lease by notice to arnold. when wilkinson wrote to arnold that he was exercising another option to renew, sam filed a suit against him, claiming that the lease was void. did wilkinson give proper notice to renew? discuss.

answer; break-even analysis;

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.