Answer:
a. Transaction 1
It is not deductible so the Taxable income is $9,000
Transaction 2
It is deductible, taxable income would be;
= 13,500 * ( 1 - Tax)
= 13,500 * ( 1 - 20%)
= $10,800
b. Transaction 1
It is not deductible so the Taxable income is $9,000
Transaction 2
It is deductible, taxable income would be;
= 13,500 * ( 1 - Tax)
= 13,500 * ( 1 - 40%)
= $8,100
Allocator- Price thus serves the function of allocator. First, it allocates goods and services among those who are willing and able to buy them. (As we noted in Chapter 1, the answer to the economic question “For whom to produce?” depends primarily on prices.) Second, price allocates financial resources (sales revenue) among producers according to how well they satisfy customers’ needs. Third, price helps customers to allocate their own financial resources among various want-satisfying products.
Answer:
B. Less than 10%
Explanation:
An addition increase by 10 % in the physical capital stock (which is a factor of production consisting of man made goods like machineries and so on) will lead to a less than 10% increase in the Gross domestic product. This is due to the law of diminishing marginal utility which talks about the consumption increases marginal utility from each additional unit declines. Thus, the more the physical capital stock increases, the GDP will increase at a decreasing rate.
If AR is constant, MR is equal to AR. Both are indicated by the same horizontal straight line(a situation of perfect competition)
<h3>What is the marginal revenue curve for a perfectly competitive firm?</h3>
- Marginal revenue for a company with perfect competition is the same as average revenue and pricing.
- This suggests that at values bigger than the average variable cost, the firm's short-run supply curve is its marginal cost curve.
- The company closes if the price falls below the average variable cost.
Marginal revenue is the change in total revenue when one more unit of a commodity is sold.
MR= change in TR/change in quantity sold
Average revenue refers to revenue per unit of output.
AR=TR/Q
Relationship between AR and MR:
If AR is constant, MR is equal to AR.
Both are indicated by the same horizontal straight line(a situation of perfect competition)
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It is true that an employee time ticket is an hour-by-hour summary of the employee’s activities throughout the day.
A time ticket is used to track the hours for which an employee will be paid in the upcoming payroll. Employees' time tickets are reviewed and approved by a supervisor at the closing of each pay period. After which the payroll team use them to calculate the hours worked by an employee. This serves as a basis for calculating gross pay.
When an employee clocks in or out, they generally put a time ticket into a time clock that are printed in an oblong, thick paper shape. Usually time tickets are physical cards that are stamped with beginning and ending times of employees work days. The payroll accountant or bookkeeper creates time tickets after the pay month has ended.
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