I would say false because 'personal' is in the name. Your work doesn't really need to know the exact details (might depend on the business tho).
Answer:
Normal goods
Explanation:
In simple words, normal goods refers to the goods which re necessary for the survival for the survival for re consumer and the consumer do not take its quality into consideration while making a purchase decision.
The demand for such goods have a positive relationship with the income of consumer, that is, when the income or wages of consumer increase the demand for such goods also increases and vice versa.
The increase in demand for normal goods by consumer is sometimes also seen as an indicator of an economic growth. Clothes, vegetable and medicines are some of the many examples of normal goods.
Answer:
Vanessa's tax basis in cook inc. $50,000
Explanation:
Given:
Cash = $20,000
Fair market value = $100,000
Adjusted basis = $40,000
Mortgage executed = $30,000
Now,
For the tax basis
cash $30,000
add; Land ( adjusted basis ) $40,000
less ; Mortgage $20,000
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Vanessa's tax basis in cook inc. $50,000
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Answer:
Consumer surplus = (60000 - 40000)+ (90000 - 40000)+(40000 - 40000) = $70000
Producer surplus = (40000 - 20000)+(40000 - 30000)+ (40000 - 40000) = $30000
Social surplus = Consumer surplus +Producer Surplus= 70000 + 30000 = $100000
Consumer surplus = (Willingness to pay – Price)
Producer surplus = ( Price –Cost)
