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COMM1100-Business Decision Making - T1/2025

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Angelo ordered a new luxury hybrid car from Luxuryplus Motors on 10 September. He specified that it was to be a new Black Porsche Panorama Hybrid, with air conditioning, power steering, hand sewn leopard print leather seat covers, and a Bose @Porsche surround system. It was agreed that the car would be delivered on 24 October in time for Angelo's birthday. On the due day, Angelo went to the dealer's premises and found that the car was ready for collection. Angelo made sure that all his specific requirements had been fulfilled. 

Does this bring the contract to an end? 

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Consider the tutorial case study provided in Week 4: 

Australia's Domestic Airline Industry

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The ACCC Chair Gina Cass-Gottlieb called for a change in legislation. Which one of the following is not a type of anti-competitive behaviour under the  competition law that needs to be considered when calling for a change in legislation?

 

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Which of the following is not a key issue addressed under the Consumer Law ?

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 For a contract or legal agreement to be formed it must have four key legal elements. They are;

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Which of the following is NOT one of the functions of the Australian Competition and Consumer Commission (ACCC)? 

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Suppose that Cary’s Car Wash is the only car wash in its suburb and faces the following demand schedule for car washes per hour. 

If the Cary’s marginal cost is constant and equal to $10, what is its profit-maximizing price and level of output? 

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Fertilizer runoff from farms can cause ocean “dead zones” near the mouths of rivers. Among other things, the existence of these zones reduces the catch of fishermen in the area. Suppose that corn farms are one source of fertilizer runoff. The lost economic surplus associated with the competitive market equilibrium for corn is 

Graph of supply and demand in the market for corn.

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Suppose that Cary’s Car Wash is the only car wash in its suburb and faces the following demand schedule for car washes per hour. 

If the Cary’s marginal cost is constant and equal to $10, what is its profit-maximizing price and level of output? 

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The equilibrium quantity is 

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Suppose that the demand and supply curves for a market can be represented by the following equations: 

Demand:           Q = 60 – 4P 

Supply:               Q = 2P 

The equilibrium price is 

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