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Orlov [11]
3 years ago
14

Most individuals and businesses are likely to find their judicial interactions in _____. A. the U.S. Supreme Court B. federal ci

rcuit courts C. state courts D. federal district courts E. international courts
Business
2 answers:
crimeas [40]3 years ago
5 0

Answer: State courts

Explanation: The state courts is established by the constitution and laws of each state. State courts are regarded as the final arbiters of laws and constitutions of a state.

However, the court deals with criminal cases (robbery, cyber crime, etc.), probate (involving wills and estates), tort cases (involving personal injuries), contract cases, family cases (involving marriages, adoptions, and divorce), among others.

Brums [2.3K]3 years ago
3 0

Answer:

Option C is correct

Explanation:

The state court is a common law court that apply respective state laws and precedence to decide cases. State courts usually handle majority of crimes and civil case which include individual cases and small business issues.

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3 years ago
Gomez runs a small pottery firm. He hires one helper at $11,500 per year, pays annual rent of $7,000 for his shop, and spends $2
madreJ [45]

Answer:

in this problem, we need to calculate Gomez's accounting and economic profit. To do this, let us first classify and list the explicit and implicit costs. Revenue: Sales: $85,000 Explicit costs: Cost of one helper: $18,000 Rent: $8,000 Materials: $24,000 These are the costs that require an outlay of cash. Implicit costs: Opportunity cost of funds invested in equipment: $7,000 Gomez could have invested the funds in another asset that could earn him $7,000 Opportunity cost of working as a potter in his own shop: $20,000 Gomez could have worked as a potter for a competitor that could earn him $20,000. This is the worth of Gomez's skill as a potter. Entrepreneurial talent: $4,000 This is the worth of Gomez's talent in running the business. These costs do not require an outlay of cash. These are the implicit costs. Now, we are ready to calculate both the accounting and economic profit of Gomez. a. Calculate the accounting profit for Gomez's pottery firm. $_ Accounting profit = Total Revenue − Total Explicit Costs Accounting profit = $ 85 , 000 − ( $ 18 , 000 + $ 8 , 000 + $ 24 , 000 ) Accounting profit = $ 85 , 000 − $ 50 , 000 Accounting profit = $ 35 , 000 The accounting profit is equal to $35,000. b. Now calculate Gomez's economic profit. $_ Economic profit = Total Revenue − Total Explicit and Implicit Costs Economic profit = $ 85 , 000 − ( $ 18 , 000 + $ 8 , 000 + $ 24 , 000 + $ 7 , 000 + $ 20 , 000 + $ 4 , 000 ) Economic profit = $ 85 , 000 − $ 81 , 000 Economic profit = $ 4 , 000 The economic profit is equal to $4,000.

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