On January 1st, Mask Manufacturing Inc. makes an agreement to sell to Helping Hands Hospital all of the protective masks that Helping Hands needs for a period of 3 months. Helping Hands normally uses about 1,000 month although the number varies a little. On March 1st, Helping submitted an order for 5,000 masks. Mask Manufacturing only provides 1,000. Which statement is true? Group of answer choices The agreement was an output contract and Mask is in breach of contract since they are not providing the number (5,000) requested. This is an unenforceable UCC contract since the exact quantity is not specified. This would be an unenforceable common law contract. This a requirements contract and Mask is not in breach of contract for failing to provide 5,000.

Suppose that two firms produce differentiated products and compete in prices. as in class, the two firms are located at two ends of a line one mile apart. consumers are evenly distributed along the line. the firms have identical marginal cost, $60. firm b produces a product with value $110 to consumers.firm a (located at 0 on the unit line) produces a higher quality product with value $120 to consumers. the cost of travel are directly related to the distance a consumer travels to purchase a good. if a consumerhas to travel a mile to purchase a good, the incur a cost of $20. if they have to travel x fraction of a mile, they incur a cost of $20x. (a) write down the expressions for how much a consumer at location d would value the products sold by firms a and b, if they set prices p_{a} and p_{b} ? (b) based on your expressions in (a), how much will be demanded from each firm if prices p_{a} and p_{b} are set? (c) what are the nash equilibrium prices?