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Mike Owns a Mirror Shop

question 52

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Mike owns a mirror shop.Abby is building a ballet studio and needs 50 mirrors.On April 1,Abby contracts with Mike to buy 50 mirrors.The mirrors are located at Mike's shop and the contract states that Abby is free to pick-up the mirrors at anytime.Abby pays for the mirrors on April 15 and picks-up the mirrors on May 1.When does the title pass from Mike to Abby?


Definitions:

Total Output

The complete amount of goods or services produced by an economy, sector, or organization over a certain period.

Least Skilled Worker

An employee who possesses the minimal skills required for a job, often receiving the lowest wages.

MP

Represents marginal productivity, which is the additional output derived from the use of one more unit of a variable input, holding all other inputs constant.

Barbershop

A place of business where people, typically men, go to get haircuts and other grooming services such as shaves.

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