Answer:
Deductible expenses: 500 (hobby expense after revenue limit - 2% AGI floor)
.
Explanation:
AGI Before activity: $97,500
Hobby Rev. : $2,500
AGI after activity: 100,000
Hobby expense: 10,550
Hobby expense after revenue limit: 2,500 (lessor of hobby rev. and hobby expense)
2% AGI Floor: 2,000
Deductible expenses: 500 (hobby expense after revenue limit - 2% AGI floor)
$500 is the answer.
Let's say you and your friends decide to go to the beach for spring break. You need to fly a service from Kansas City to Miami. this market is best characterized as an oligopoly.
Some of the most prominent oligopolies in the United States are film and television production, recorded music, wireless carriers and airlines. From the 1980s onwards, it became common for the industry to be dominated by two or three of his companies. Merger agreements between major players have led to industry consolidation.
An oligopoly market is a market dominated by a few suppliers. They are found in all countries and in various industries. Some are competitive oligopolistic markets, while others are significantly less competitive, or at least appear to be.
High barriers to entry, pricing power, non-price competition, interdependence of firms, and product differentiation are all hallmarks of an oligopoly.
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<u>Solution and Explanation:</u>
The budgeted cost of the direct labor for the month is calcuated as follows:
the given data:
Budgeted production is = 8000 units, time required of direct labor work in order to complete the production is = 40 minutes, the direct labor rate as given in the question is = $100 per hour.
Budgeted cost = time multply with rate of labor multiply with budgeted production
(40/60 multiply with 100) multiply with 8000 = 533,333.33
therefore, the budgeted cost = $533333.33 ( rounded of to 2 places).
Answer:
b) 34,500 Regular units and 69,000 Ultra units
Explanation:
The computation of the firm break even point in units for Regular and Ultra is shown below:
Weighted average contribution margin per unit is
= (19 × 1 ÷ 3 + 23 × 2 ÷ 3)
= 21.6666 per unit
Now Break even point unit is
= 2242500 ÷ 21.666
= 103500 unit
Now
Regular = 103500 ÷ 3 = 34500
And Ultra = 103500 - 34500 = 69000
So the correct option is b
Answer:
Oligopoly.
Explanation:
The market structure in which the behavior of any given firm depends on the behavior of the other firms in the industry is oligopoly.
An oligopoly can be defined as a market structure comprising of a small number of firms (sellers) offering identical or similar products, wherein none can limit the significant influence of others.
Hence, it is a market structure that is distinguished by several characteristics, one of which is either similar or identical products and dominance by few firms.
<em>The characteristics of an oligopolistic market structure are;</em>
<em>1. Mutual interdependence between the firms. </em>
<em>2. Market control by many small firms.</em>
<em>3. Difficult entry to new firms. </em>
