Suppose Blue lent his friend Iris $1,000 for a year via a negotiable instrument. When it was time to pay, Iris gave Blue a hard-luck story about how her life was not going according to plan and she just couldn't pay back the loan. She asked Blue to cancel the negotiable instrument. Blue, being a compassionate man, agreed. Is Iris discharged from her obligation to pay?

Cindy recently played in a softball game in which she misplayed a ground ball for an error. later, in the same game, she made a great catch on a very difficult play. according to the self-serving bias, she would attribute her error to and her good catch to her

How does your household gain from specialization and comparative advantage? (what is produced, what is not produced yet paid to a specialist to produce? )

Robert black, regional manager for ford in texas and oklahoma, faced a dilemma. the ford f-150 pickup truck was the best-selling pickup ever, yet ford's headquarters in detroit had decided to introduce a completely redesigned f-150. how could mr. black sell both trucks at the same time? he still had "old" f-150s in stock. in his advertising, mr. black referred to the new f-150s as follows: "not a better f-150. just the only truck good enough to be the next f-150." this statement represents ford's of the new f-150.