Answer:
c. shoe leather cost.
Explanation:
During times of high inflation, interest rates usually go up. Money in the banks earns higher interest compared to when inflation is low. When the inflation rate is high, the prices of goods and services increase rapidly, resulting in a reduction in currency's purchasing power.
Individuals and firms opt to keep as little cash in hand as possible. Holding a lot of cash at such times is not prudent as banks offer high-interest rates. Keeping cash become costly due to currency depreciation. As firms and households keep most of the money in banks, they incur a lot of transport costs and time going to banks to withdraw cash for normal expenses. The time and transport costs incurred are referred to as shoe leather costs.
Answer:
c. 50 percent
Explanation:
The amount of tax to paid by Tim on the second income he earned during the year shall be calculated as follow:
Amount of tax on 2nd income=21,000-(20%*30,000)
=21,000- 6,000
=$15,000
Marginal tax rate on 2nd income=Amount of tax on 2nd income/2nd income earned during year
Marginal tax rate=15,000/30,000=50%
So the answer is c. 50 percent
As a general rule, an illegal contract is automatically void, so neither party may enforce it against the other.
<h3>What is Illegal contract ?</h3>
A contract is illegal if it involves doing something that is a criminal act or a civil wrong, or against the public good.
An Illegal contract or agreement is a contraction in terms when a contract is a legal obligation, illegal contract is viewed as a contradiction in terms.
An Illegal contract is called a contradiction for the following reasons listed below:
When a contract has a term that is obligatory, it is called a legal contract.
According to the rules of terms, when a contract is not done legally, it is considered an illegal contract. On the common law of a contract or agreement, when a court does not apply or impose in any case or otherwise for a contract, it is seen as illegal.
Learn more about Illegal Contract on:
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Answer: Business ethics
Explanation: Business ethics is that branch of ethics, which examines the problems that arise due to unethical behavior of employees within an organisation. Such a behavior can result into serious issues like insider trading or false whistle blowing etc.
Business ethics helps to form the guidance on value and norms that an employee should follow in the form of code of ethics.
Answer:
the Cournot-Nash equilibrium, Simon's production is 82 units
Explanation:
The Cournot-Nash Equilibrium for Simon's production is calculated as follows:
Reaction function of Carl is as follows:
Carl maximize profit at 
⇒ 
⇒ 
Set
Reaction function of Simon
Since Simon maximize profit at 
Set
Substituting equation (1) into equation (2)
Thus; the Cournot-Nash equilibrium, Simon's production is 82 units
