Answer:
The correct answer is option d.
Explanation:
The firms in a perfectly competitive market are price takers. The price taker firms do not determine their product prices. The price of a product is determined through the market forces by the equalisation of demand and supply.
The firms face a horizontal line demand curve at the level of market price.
There are large number of sellers selling identical products in the market, so if a firm increases its price, the buyers will go somewhere else where the price is lower.
Answer:
The correct answer is option A.
Explanation:
Sharon in consuming two goods X and Y.
The price of X is $2 and that of Y is $1.
The marginal utility derived from consuming X is 60 utils and from consuming Y is 30 utils.
For profit-maximization the ratio of marginal utility and price should be equal for both goods or the marginal utility of money spent on both goods should be equal.
The ratio for good X
=
=
= 30
The ratio for good Y
=
=
= 30
Since the ratio is same for both the goods it implies that Sharon is maximizing her total utility.
Answer:
A) 1098
Explanation:
Form 1098 - Mortgage Interest Statement is used to report paid mortgage interest of $600 or more during the tax year. Taxpayers can deduct the interests included in Form 1098 from their taxable income. Only sole proprietors and individual taxpayers must file Form 1098.
Answer:
No
Explanation:
In a partnership form of business ownership, a limited partner enjoys limited liability to the debts of the business. Alexandra is named as a limited partner. He should not participate in the day to day management of the business.
Marita is a general partner and is involved in managing business operations. He has unlimited liabilities to the debts of the business. If Marita embezzles investors' funds, Alexandra is only liable to the extent of his capital contribution. His personal properties cannot be attached to business debts. Alexandra can only be liable if he participates in the management of the business. Marita, on the other hand, is fully responsible for business debts.
Answer:
D. Determinable fee estate
Explanation:
To begin, a determinable fee estate is structured such that it terminates upon the occasion of certain events, or completion of purpose, and will revert to the grantor without any entry or other provisions. This revert to the grantor is essential and thus come automatically, especially upon the creation of a determinable fee estate.
Given the scenario under study, a woman held a fee simple to a vacant lot adjacent to a business. Subsequently, she made the lot available to the business, and convey its ownership on same. The clause 'so long it is used for commercial purposes' further underscores that a determinable fee and/or future interest is expected to be earned on such.
This arrangement and especially looking at the completion of the gift, the business will thus own a Determinable fee estate.