Gil found a nearly new engine in his neighbor's garage. He was experienced enough to see that it was in good shape. When he asked the neighbor how much she wanted for it, she said "you can have it if you'll get it out of here by the weekend and clean up the oil and grease around where it was." Gil said"Okay" even though he knew the engine was worth nearly $1,200. Is this a valid contract? Why or why not?

Wo firms, a and b, each currently dump 50 tons of chemicals into the local river. the government has decided to reduce the pollution and from now on will require a pollution permit for each ton of pollution dumped into the river. it costs firm a $100 for each ton of pollution that it eliminates before it reaches the river, and it costs firm b $50 for each ton of pollution that it eliminates before it reaches the river. the government gives each firm 20 pollution permits. government officials are not sure whether to allow the firms to buy or sell the pollution permits to each other. what is the total cost of reducing pollution if firms are not allowed to buy and sell pollution permits from each other? what is the total cost of reducing pollution if the firms are allowed to buy and sell permits from each other? a. $3,000; $1,500 b. $4,500; $3,500 c. $4,500; $4,000 d. $4,500; $2,500