Answer:
A. ($1,000).
Explanation:
In the question, it is given that the fair market value of the land is $49,000 and the selling value is $48,000. So, in the given situation the selling value of the land is less than the fair market value which reflect the loss of $1,000
The $1,000 is come by subtracting the selling value and the fair market value
All other information is not relevant for the computation part. Hence, ignored it
When a tax of $1.00 per gallon is imposed on sellers of gasoline, the supply curve for gasoline shifts upward, but by less than $1.00. A tax on sellers usually causes buyers to pay more for the good and sellers to receive less for the good than they did before the tax was levied.
Given: -
Sarah's income = 25% of the partnership income but not less than $12,000.
Net income of partnership for the year = $32,000.
To find: -
1) Amount that can be deducted by partnership as guaranteed payment.
2) Income that Sarah is to report on her tax return.
Solution: -
Partnership income = $32,000
Sarah's share = 25% of 32000 = $8,000
But Sarah must receive $12,000 (Shortfall $12,000-$8,000=$4,000)
So, 1) $4,000 can be deducted by partnership as guaranteed payment.
2) Income that Sarah needs to report on her tax return = $12,000.
Answer:
option d) approximately 84%
Explanation:
Data provided in the question:
Mean, m = $92
Standard deviation, s = $13
Now,
we have to calculate percentage of homes will have a monthly utility bill of more than $79 i.e P(X > 79)
also,
P( X > 79) = 1 - P( X < 79)
Z-score for (X = 79 ) = 
Z = 
or
Z = -1
From the standard Z value vs P table, we have
P( Z < -1 ) = 0.1587
Thus,
P( X < 79) = P( Z < -1 ) = 0.1587
therefore,
P(X > 79) = 1 - 0.1587
or
P(X > 79) = 0.8413
or
= 0.8413 × 100%
= 84.13%
Hence,
option d) approximately 84%
Answer:
C. Shut down the presses printing my book
Explanation:
Since the average variable cost of producing the book is above the demand curve, the best course of action is to shut down the printing (production) of more books. The author would lose less money by shutting down operations rather than continuing production at a variable cost higher than the demand he's receiving for the books.
In economics, when profit is less than the average variable cost, firms are advised to stop production in the short run and incur economic loss on fixed inputs. This is because with continued operations, total revenue would not only be lower than total cost, but rather, would also be less than total variable cost.
