Land Developer agrees to buy an acre of land from Property Owner for $20,000. Following payment of the purchase price by Land Developer, Property Owner breaches the contract and refuses to convey the land on the scheduled closing date (after learning that the market price of the land had risen 50% - from $20,000 to $30,000 - between the date of the sale and the scheduled closing date). Assuming that the equitable remedy of specific performance is not available, Land Developer may elect to file suit seeking (i) refund of the purchase price and (ii) compensatory damages. What would be the amount of Land Developers ‘benefit of the bargain’ compensatory damages

David consumes two things: gasoline (g) and bread (b). david's utility function is u(g, b) = 10g^0.25 b^0.75. use the lagrange technique to solve for david's optimal choices of gasoline and bread as a function of the price of gasoline, p_g, the price of bread, p_b, and his income m. with recent decrease in the price of gasoline (maybe due to external shock such as shale gas production) does david increase his consumption of gasoline? for david, how does partial differential g/partial differential p_g depend on his income m? that is, how does david's change in gasoline consumption due to an increase in the price of gasoline depend on his income level? to answer these questions, find the cross-partial derivative, |partial differential^2 g/partial differential m partial differential p_g.