(1) Christopher takes (x1, x2) to be at least as good as (y1, y2) if and only if x1 ≥ y1 and x2 ≥ y2. Show which condition his preferences violate.
(2) Explain how it would be possible to cheat someone who had intransitive pref- erences. Be explicit about what you would offer him, and what he would do in response.
(3) A household formed by Mom (M), Dad (D), and Child (C) is deciding what to do on Friday evening. The alternatives are attending an opera (O), a rock concert (R), or an ice-skating show (I). The three members of the household have individual preferences: O≻M R≻M I, I≻D O≻D R, R≻C I≻C O. Thehouseholdmakes decisions by majority voting: An option is chosen if and only if at least two people vote for it. Show which condition the majority rule violates

Highland company produces a lightweight backpack that is popular with college students. standard variable costs relating to a single backpack are given below

Alpha company uses the periodic inventory system for purchase & sales of merchandise. discount terms for both purchases & sales are, 2/10, n30 and the gross method is used. unless otherwise noted, fob destination will apply to all purchases & sales. the value of inventory is based on periodic system. on january 1, 2016, beginning inventory consisted of 350 units of widgets costing $10 each. alpha prepares monthly income statements. the following events occurred during the month of jan.: dateactivitya. jan. 3purchased on account 350 widgets for $11 each. b.jan. 5sold on account 400 widgets for $30 each. paid freight out with petty cash of $150.c. jan. 10purchased on account 625 widgets for $12 each. d.jan. 11shipping cost for the january 10 purchased merchandise was $400 was paid with a cheque by alpha directly to the freight company. e.jan. 12returned 50 widgets received from jan. 10 purchase as they were not the correct item ordered. f.jan. 13paid for the purchases made on jan. 3.g. jan. 21sold on account 550 widgets for $30 each. paid freight out with petty cash of $250.h. jan. 22authorize credit without return of goods for 50 widgets sold on jan. 21 when customer advised that they were received in defective condition. i.jan. 25received payment for the sale made on jan. 5.j. jan. 26paid for the purchases made on jan. 10.k. jan. 31received payment for the sale made on jan. 21.use this information to prepare the general journal entries (without explanation) for the january events. if no entry is required then enter the date and write "no entry required."

The martinez legal firm (mlf) recently acquired a smaller competitor, miller and associates, which specializes in issues not previously covered by mlf, such as land use and intellectual property cases. given the increase in the firm's size and complexity, it is likely that its internal transaction costs willa. decrease. b. increase. c. become external transaction costs. d. be eliminated.