The amount of tax that Lance is going to have to pay under the single status is going to be $12,531
<h3>What is the single status tax system?</h3>
This is the status that is used by the people that are not married. In this system of filing taxes, the way that it is done is that the single filers would have to use the single status for the internal revenue service.
We have to multiply the income that is taxable from last year by 19.17%
= $65,350 * 19.17%
= $12531
Hence the amount that has to be taxed is going to be 12531
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It could be so that there is no punishments that are to cruel in result of the crime committed
Answer and Explanation:
I will go through each and every option explaining the reasons and what option would be the best:
The (a) part says 'difference in wages will eventually disappear since a haircut is a homogeneous good' - This is not true because even though it is an homogeneous product, some customers do have a strong preference for barbers who are not going bald. Therefore, they know their worth and they would want to capitalize on that and get paid just a bit more than bald barbers.
The (b) part says 'barbershops that hire barbers with hair will be able to charge a higher price for a haircut to those consumers who have a strong preference for barbers with hair'. - If the barbershop charges higher price for barbers that have hair then the customers will prefer bald barbers as the questions mentions that there is high competition and since it is an homogeneous, customers would be willing to save money and get their haircut from some other barber.
The (c) part says 'barbershops that hire bald barbers will always be much more profitable' - Not necessarily. The reason is that some customers have a strong preference for barbers who are not bald and therefore, that would help barbershops who have barbers with hair to be a bit more profitable as some additional customers would want their services.
The (d) part says 'barbershops that hire barbers with hair will always be much more profitable' - This is the best option and the reason for it is because some customers have a strong preference for barbers with hair and that would help the barbershop to earn more. They would have the customers who already indifferent to whoever cuts their hair and in addition to that, they would also have the customers who have their preference.
Hence the answer is D.
Answer:
Final Value= $7,144.13
Explanation:
Giving the following information:
Suppose you decided to place $2,500 in a savings account at First Foremost Savings and Loan. The account pays 7% compounded continuously.
Number of years= 15
<u>Because it is compound continuously, we need to use the mathematical constant e.</u>
To calculate the final value, we need to use the following formula:
FV= PV*[e^(i*n)]
FV= 2,500*[e^(0.07*15)]
FV= 2,500*(e^1.05)
FV= $7,144.13
