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Rzqust [24]
2 years ago
7

Jim, a Connecticut resident, ran a red light while he was vacationing in California and collided with Amanda’s car. Amanda suffe

red extensive injuries from the accident and successfully sued Jim for $200,000 in a California state court. The California court exercised quasi in rem jurisdiction over Jim’s California vacation home by seizing it and selling it for $300,000. What must the court do with the excess proceeds?
Business
1 answer:
kolezko [41]2 years ago
5 0

Answer: The court must return the excess proceeds to Jim.

Explanation: The excess money left after a property is sold and the debt owe is paid off is termed surplus and it is usually given to the owner of the property sold.

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When a firm uses K units of capital and L units of labor, it can produce Q units of output with the production function Q = K√L.
DanielleElmas [232]

Answer:

STC = 20K + 25L = 20*5 + 25*[\frac{Q^2}{25}] = 100 + Q^2

Explanation:

We are given:

K units of capital and L units of labor.

•Each unit of capital cost = 20

• Each unit of labor cost =25

• Level K is fixed at 5 units

We are told production function Q = K√L

Using the production functions and the values given, we can get that Q=5√L.

To find Q, the amount of labor will be given as:

L = \frac{Q^2}{25}

Therefore, the Short run total cost function (STC) will be:

20K + 25L = 20*5 + 25[\frac{Q^2}{25}] = 100 + Q^2

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2 years ago
Quintina decided to increase the deduction percentage of her federal income tax rate from 14% to 16%. Quintina’s gross pay per m
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Answer:

$1555

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3 years ago
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Lacy's Linen Mart uses the average cost retail method to estimate inventories. Data for the first six months of 2021 include: be
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Answer:

$83,850

Explanation:

Lacy's Linen Mart

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Add: net purchases$331,000 $499,000

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Less: Net sales($509,000)

Estimated ending inventory at retail

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Estimated ending inventory at cost(65% x $129,000)$83,850

Therefore the estimated inventory at June 30, 2021, would be $83,850

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Answer:

d

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