incomes of the people
the number of customers in the market
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Answer: $0
Explanation: The total amount of an individual's Gross income which is taxed is called the taxable income. An individual's Adjustable Gross Income may include expenses such as charitable contribution, mortgage interest, medical and some other eligible expenditure which are are deducted in other to lessen the taxable income of such individual. Such deductions are called the Itemized deductions.
However, personal expenses DO NOT CONTRIBUTE to an individual's Itemized deduction and as such, MIKE HANSEN'S ITEMIZED DEDUCTION IS ZERO.
The $6000 incurred is classed under personal expenditure and is not deductible.
Answer: $320
Explanation:
The Profit as the question shows is the Total Revenue less the total cost.
Total Revenue.
This will be the amount of goods sold multiplied by the price they are sold at.
The monopolist maximises output where Marginal Revenue equals Marginal Cost which from the graph is 4 units.
The price they sell at is the intersection of this quantity with the demand curve which is at $120.
Total Revenue = Units Sold * Price
= 4 * 120
= $480
Total Cost
The total cost will be the average cost per unit multiplied by the number of units sold. The relevant average cost is the cost associated with the maximised out of 4 units which according to the graph is $40.
= Average cost * number of units
= 40 * 4
= $160
Profit = 480 - 160
= $320
Answer:
<h2>Spending on infrastructure projects is an example of <u>Discretionary Fiscal Policy</u> aimed at increasing real GDP and employment.</h2>
Explanation:
- A discretionary fiscal policy basically refers to the manipulation or adjustment of various fiscal instruments by the government such as public taxes and government spending.
- The aim of discretionary fiscal policy is to adjust the overall macroeconomic condition in any country based on the existing or current situation or scenario.
- Now,infrastructural spending is part of fiscal policy or instrument to adjust the macroeconomic condition of the country as reflected by necessary modification in the GDP and employment level.Hence, higher infrastructural spending by the government would expectedly increase the residential and commercial construction projects in the country thereby,enhancing the GDP and the employment level in the country and boost the overall economy.
Answer:
$11,300
Explanation:
The computation of the deferred tax asset is shown below:
= 21%(20X2 Expense) + 25%(20X3 and 20X4 Expense)
= 21%($30,000) + 25%($15,000) + 25%($5,000)
= $6,300 + $3,750 + $1,250
= $11,300
