Answer and explanation:
The law of Diminishing Marginal Utility states that the more you consume a good or use a service, the less satisfied you will be with each successive use or consumption. It is an important concept in determining consumer preferences. It assumes consumers are rational and will spend money in a way that maximizes contentment with each subsequent unit without negatively affecting their total enjoyment.
Answer:
Special revenue fund.
Explanation:
A special revenue fund is a government account created to collect money that is used for an specific purpose or project. The money collected by this type of account can only be used for the specific purpose for which it was established.
In this case, the revenue collected from the gasoline tax can only be used for highway construction and maintenance.
Answer: $75,000
Explanation:
Net Cash inflow refers to the actual cash that came into the company less the cash that went out.
Net cash inflow = Cash inflow - Cash outflow
= Cash from sales + Cash from receivables collection - cash wages
= 70,000 + 35,000 - 30,000
= $75,000
Answer:
A) shut down; losses; $15,600
Explanation:
A perfect competition is characterised by many buyers and sellers of homogenous goods and services. Market prices are set by the forces of demand and supply. There are no barriers to entry or exit of firms into the industry. Firms earn zero economic profit in the long run.
If in the short run, price is less than average variable cost, the firm should shut down. In this question, price ($10) is less than average variable cost ($18). The firm should shut down in the short run.
Profit or loss = Total revenue - Total cost
($10-$23) x 1200 = -$15,600
The firm is earning a loss because average total cost in greater than price.
I hope my answer helps you
Answer:
1) $18,000
2) $0
Explanation:
1) The wage based limits in business applies only to taxpayers with taxable income in excess of $157,500 or excess of $315,000, if it is a joint return.
Now, in this case, Roquan's taxable income which is $100,000 is less than the wage limits of $157,500 earlier stated. This implies that it doesn't qualify for wage-based limits.
Therefore, from business practices, Roquan will likely deduct 20% of the net $90,000 which is $18,000 to serve as deduction for qualified business income.
2) We are told that Roquan's taxable income before the deduction for qualified business income is now $300,000. What this implies is that his law practice would be judged to be a trade business and he would therefore not be eligible for deduction of the qualified business income.
Thus, it's $0.
