People who are outgoing, charismatic, lively, and hardworking
Cost recovery deduction = $1520
Solution:
Given data
purchase price = $38,000
used the car business = 80%
used the car personal = 20%
solution
cost recovery limit are,
cost recovery limit = asset value × statutory % × mid quarter convention
We recognize the 5-year MACRS convention of car and the depreciation rate of MACRS is 20 percent in the first year.
so we use MACRS statutory % method
cost recovery limit = $38000 × 5%
cost recovery limit = $1900
we know maximum limit is $3160
so cost of recovery is $1900
so,
cost recovery deduction is
cost recovery deduction = cost recovery limit - personal use
cost recovery deduction = $1900 - ( $1900 × 20% )
cost recovery deduction = $1520
Answer: Harry's demand for hamburgers will increase.
Explanation:
Substitutes are goods that can be used to replace one another because they both serve thesame purpose. In this case, hot dogs and hamburgers are substitutes.
Since the price of hotdogs has risen, Harry will reduce its demand for hotdogs and shift its demand to buying more hamburger. This means Harry's demand for hamburgers will increase.
If they cannot successfully collude and instead produce where the market price equals marginal cost, the market price will be higher.
More about market price:
The price at which a good or service can currently be purchased or sold is known as the market price. The dynamics of supply and demand influence the market price of a good or service. The market price is the cost at which the quantity supplied and the quantity demanded are equal.
In order to determine consumer and economic surplus, the market price is used. Customer surplus, also known as the market price, is the difference between the highest price a consumer is willing to pay and the actual amount they pay for the commodity.
Learn more about market price here:
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