Answer:
Explanation:
The lunch plate industry in Oahu is a perfectly competitive industry.
This industry is also a decreasing cost industry. A decreasing cost industry can be defined as the type of industry where an increase in the number of firms in the industry causes the average production cost to decline.
The industry is currently in long-run equilibrium and has the price level at $5.
As the demand increases, the price level will initially increase. But this increase in the price will cause the profits to increase and thus attract potential firms to join the market.
As the number of firms increases the average cost of production will decrease. As a result, the supply in the market will increase more than the demand.
So the long-run equilibrium will be reestablished at a lower price than earlier.
Answer:
Price discrimination
Explanation:
Price discrimination is a method used by various firms; it is a selling system that charges clients different costs for similar items. They charge clients different prices and the prices depend on whatever the customer can pay. In unmodified price discrimination, the dealer charges every client the most extreme value the individual customer can pay. Under the Robinson-Patman Act of 1936, it is illegal to sell the same quality of products at different prices.
Answer:
$1,364
Explanation:
According to the MACRS a rental house is classified as the 27.5 year residential property. It is the first year after purchase and August is the 8th month of 2019 and so according to the MACRS depreciation table for the residential property the rate applicable for this property is 1.364%. Maximum depreciation deduction for the year 2019 is
Cost of House = $174,000
Cost of Land = $74,000
Cost of Building = $100,000
As depreciation on land is not applicable because it does not depreciate. The depreciation will be calculated using Building value
Depreciation = $100,000 x 1.364% = $1,364
Business functions are the activities carried out by an enterprise; they can be divided into core functions and support functions. Core business functions are activities of an enterprise yielding income: the production of final goods or services intended for the market or for third parties
She is permitted, according to the applicable tax legislation, to donate $30 000.
This is further explained below.
<h3>How much can Sue's mother give under current tax laws?</h3>
In most cases, Sue's mother is able to pay Ken the first fifteen thousand dollars and then proceed to give Sue the remaining fifteen thousand dollars. Because Sue's mother gave this to her, there will be no tax placed on it because it is considered a gift.
The act or process of passing tax laws, as well as the body of laws that allow for the levying of taxes and the administration of taxes, are together referred to as tax legislation.
Any object or document that is verifiable and that is frequently accepted as payment for goods and services as well as the repayment of obligations, such as taxes, in a given nation or socio-economic setting is considered to be money in that nation.
In conclusion, Sue's mother and father could give Ken and Sue a gift of $15,000 each, bringing the total amount of money they give to each of them to a grand total of $60,000 each.
Read more about tax laws
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