Answer: Coefficient of elasticity of supply is 0.75.
Explanation:
Price elasticity of supply measures the responsiveness of quantity supplied to a change in the price of the good. It can be measured using the percentage point method,
Therefore, coefficient of elasticity of supply is 0.75. Since it is less than 1 we can infer that supply for this good is relatively inelastic.
Answer:
$208,000
Explanation:
Calculation for fixed overhead applied
Using this formula
Fixed overhead applied =Budgeted Fixed overhead+Fixed overhead volume variance
Let plug in the formula
Fixed overhead applied =$200,000+$8,000
Fixed overhead applied=$208,000
Therefore Fixed overhead applied must be $208,000
Answer:
Janet will receive=$30,000
Explanation:
According to the information of the exercise, consider the following calculations.
<em>Step 1.</em> Total net assets realized=(60,000+50,000)=$110,000
<em>Step 2.</em> Less : liabilities paid=$80,000
<em>Step 3.</em> Remaining balance=$30000
Hence Janet will receive=$30,000
Tertiary means commercial services.
Primary business purpose is a phrase denoting that the main intent of traveling out of town was to transact business.
A secondary industry makes products that are more likely to be consumed by individuals.
Hope this helps, have a good day. c;
Answer:
qualified acquisition debt = $750,000
qualified home equity debt = $0
Explanation:
Qualified acquisition debt refers to the debt incurred to purchase or build your home. In this case, Cary and Bill are allowed to itemize the interests paid for up to $750,000 of the acquisition debt ($375,000 if filing separately). This limit was reduced due to the TCJA of 2017, and will remain in place until 2025. After 2025, the limit will return to the normal $1,000,000.
Certain amount of interests on qualified home equity loans will also return in 2025, but currently they are not deductible.
