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Masteriza [31]
3 years ago
8

Pam recently was sickened by eating spoiled peanut butter. she successfully sued the manufacturer for her medical bills ($3,700)

, her emotional distress ($6,000 − she now fears peanut butter), and punitive damages ($44,000). what amount must pam include in her gross income?
Business
1 answer:
adell [148]3 years ago
7 0

Answer: $44,000<span>

<span>The tax laws state that any payments (except PUNITIVE DAMAGES) on the account of a physical injury or physical sickness are non-taxable. Damages that taxpayers can receive relating to emotional distress are also non-taxable. Punitive damages however are fully taxable, because they are intended to penalize the harm-doer rather than to compensate the taxpayer for injuries.</span></span>

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Each extra worker produces an extra unit of output up to six workers. After six, no additional output is produced. Draw the tota
Dmitry_Shevchenko [17]

Answer:

attached is the diagram

Explanation:

Each extra worker produces an extra unit of output, is said to be the marginal production of an extra worker employed

marginal production  :

change in total production / change in labor = ΔTp / ΔL

Average production = Tp / L

Tp = total production ,  L = number of labor

To draw the Total product of labor , average product labor and marginal product labor curves starting from zero labor

0 worker : Total product = 0, average product labor = 0 , marginal = 0

1 worker : Total product = 1, average product = 1 , marginal = 0

2 worker : Total product = 2, average product = 1, marginal = 1

3 workers: total product = 3 average product = 1, marginal = 1

4 workers: Total product = 4, average product = 1, marginal = 1

5 workers : Total product = 5 average product = 1, marginal = 1

6 workers : total product = 6 average product = 1 , marginal = 1

7 workers : total product = 7 , average product = 0.85, marginal = 0

8 workers : total product = 8, average product = 0.75 marginal = 0

7 0
3 years ago
Jie consumes three heads of broccoli and six bowls of rice each week. the price of a head of broccoli is $2 and the price of ric
Degger [83]
<span>Jie should not change her consumption of either broccoli or rice for maximization of her utility , as she consumes three heads of broccoli and six bowls of rice each week. the price of a head of broccoli is $2 and the price of rice is $4 per bowl. jie's marginal utility from the last head of broccoli consumed is 4 utils and her marginal utility from her last bowl of rice is 8 utils</span>
4 0
3 years ago
Match the terms with the appropriate definition.
Bond [772]
1.) data
2.)aptitude
3.)skill
4.)personality trait
5.)intrapersonal
6.) learning style
8 0
3 years ago
Assume that on November 1, 2019, a 3-month rent payment for $8,000 per month (for a total of $24,000) was made with respect to a
ziro4ka [17]

Answer:

a)

Rent Expense   Dr.$16,000

Bank                  Dr.$48,000

Prepaid Rent     Cr.$64,000

Explanation:

The company entered into lease on 1st November 2019 with rent of $8,000 per month. the company on 1st November 2019 recorded prepaid rent as follows; which is wrong

Prepaid Rent Dr. $72,000

Bank              Cr. $72,000

This is wrong entry as prepaid rent was overstated by ($72,000-$24,000 ) $48,000 and same like bank was understated by $48,000

The correct entry should have been like this as on 1st November 2019;

Prepaid Rent Dr. $24,000

Bank               Cr. $ 24,000

By 31st December 2019, two months rent have already accrued so prepaid rent should be credited by (8000*2+48,000 for additional amount recorded)

<em>So the rectifying entry is; as on 31st December 2019</em>

<em>Rent Expense   Dr.$16,000</em>

<em>Bank                  Dr.$48,000</em>

<em>Prepaid Rent     Cr.$64,000</em>

7 0
3 years ago
A t-shirt maker would be willing to supply 75 t-shirts per day at a price of $18.00 each. At a price of $20.00, the t-shirt make
pav-90 [236]

Answer:

c. 2.71, and supply is elastic.

Explanation:

The formula to compute the price elasticity of supply is shown below:

Price elasticity of supply = (Percentage change in quantity supplied ÷ percentage change in price)        

where,  

Change in quantity supplied is

= Q2 - Q1

= 100 t-shirts - 75 t-shirts

= 25 t-shirts

And, an average of quantity supplied is

= (100 + 75) ÷ 2

= 87.5

Change in price is

= P2 - P1

= $20 - $18

= $2

And, the average of price is

= ($20 + $18) ÷ 2

= 19

So, after solving this, the price  elasticity of supply  is 2.71

3 0
3 years ago
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