Answer:
The correct answer is The price of the alternative was too high.
Explanation:
The market price is the price at which a good or service can be purchased in a free market. It is an economic concept of application both in historical aspects of the discipline and in its concrete use and in daily life.
The concept has given rise to both technical and theoretical discussions in the development of economic sciences. These discussions range from the definition of what a market is to what is understood by price, difficulties that acquire a particular importance in the microeconomics, an area in which one of the most important functions of an economist is the determination of prices that maximize profit of a company. However, the problem also extends to the macroeconomic sphere, in which price calculations play a central role in determining the hypothetical economic balance.
The tax laibility as calculated is $1036.
<u>Explanation:</u>
a.) Carson earnings $14000
Less: the Standard deduction $12000
Taxable income $2000
Tax liability $200
b.) Carson earnings $14000
Qualified dividend income $5000
Gross income $19000
less: Standard deduction $12000
Taxable income $7000
Taxable income taxed at carson rate $2000
($7000 minus $5000)
Ordinary Tax $200
Kiddie Tax is calculated as follows:
Gross unearned income
unearned income $5000
Kiddie tax up to 2600 $260
Kiddie tax for over and above 2600 $576
$836
Total tax liability ($200 plus $836) $1036
Answer: Her income elasticity of demand for cottage cheese is <em><u>0.3333</u></em> making it a <em><u>normal and necessary</u></em> good.
The income elasticity of demand is given by :
The percentage change in income is given as 60%. We calculate the percentage change in quantity demanded as follows:
Substituting the value above in the income elasticity demand formula we get,
<u>YED = 0.33333</u>
Since the income elasticity is positive, and since Shawna buys more cottage cheese after an increase in income, we can classify this good as a normal good.
Since the income elasticity is between 0 and 1 we can also conclude that cottage cheese is also a essential good or a necessity.
Answer:
C. debit cash, credit premium on bonds payable and bonds payable
Explanation:
Since the contract rate is greater than the market rate, the bond is issued at a premium. And, the journal entry is shown below:
Cash A/c Dr XXXXX
To Premium on bonds payable A/c XXXXX
To Bonds payable A/c XXXXX
(Being bond is issued at a premium is recorded)
When the bond is issued at a premium, we debited the cash account and credited the premium on bonds payable and bonds payable account
In order to implement a cost-leadership strategy effectively, a <span>functional and mechanistic</span> structure is preferred in a firm. The cost leadership strategy in business was developed by Michael Porter regarding competitive advantage. The ultimate goal is to achieve the lowest cost of manufacturing and operating your product within the industry.
