How do you make personal choices between satisfying your wants and your needs?

A class-action suit against a utility company resulted in a settlement of $2 million for 70,000 customers. If the legal fees, wh

amm1812

Answer:

Each plantiff receives approximately $22.86

Explanation:

A class action lawsuit is one in which the plaintiff is a group of people, duly represented by a member of that group. In this case, the group of people is made up of 70,000 customers.

To calculate the amount each plaintiff receives, we will first subtract the legal fee from the total settlement, to obtain effective amount to be shared

Total settlement = $2,000,000

Legal Fees = $400,000

Therefore amount received all plaintiff = $2,000,000 - $400,000 = $1,600,000.

Next we will divide total amount to be shared by the number of plaintiff;

Amount each receives = $1,600,000 ÷ 70,000 = $22.857 = $22.86 (to 2 decimal places).

It is important that you know also that legal fees are amounts charge by lawyers on the settlement to be paid when filing a lawsuit. it is usually set as a certain percentage of the settlement amount to be paid.

6 0

4 years ago

I want to know what is the correct thing to invest into

vladimir1956 [14]

Answer:

Roth ira

Explanation:

Because you are sort of young, you should invest into a roth ira, because there are retirement tax breaks put on it, plus in an smp 500 account it will grow with the market at about 8% interest per year on average. this is good, because it is pretty much guaranteed growth. that will double the amount of money for 5 or 6 times over creating a nice retirement fund for your old age, but honestly there are other strategies, this is just for sticking money in the ground and forgetting about it, letting it grow for you. low risk, and relatively high reward after a long period of time.

hope this helps

7 0

3 years ago

Why do most economists believe that it is important for a country’s central bank be independent of the rest of the country’s cen

ohaa [14]

Answer:

For economists is important to avoid political interferance in the monetary policy. Populist governments often use the creation of money to justify their political programs, causing inflation and distortions on the market.

In the last report of FOMC is highlighted the behaviour of market labour and the lower expectations of inflation.

Explanation:

There are two tools commonly used in political economy to finance government programs: taxation and paper currency print. When the central bank is not independent, the government has an incentive to print money to fund their programs, causing inflation. In economic science has been demonstrated that inflation is always caused by monetary phenomena.

5 0

3 years ago

Canon was able to redesign the copying machine so that it didn't need professional service—reliability was built directly into t

Studentka2010 [4]

Answer:

architectural innovation

Explanation:

The scenario is describing the term known as architectural innovation. This refers to the innovation of the specific architecture of any product that changes and/or modifies the way the different components of the machine link or relate to each other, thus allowing it to perform new functions or the same functions but in a much more user-friendly manner. This is what Canon did by changing the architecture of the copying machine so that it was more user-friendly for the end consumer.

5 0

3 years ago

Hex Industries reports the following information for May: Sales $ 990,000 Fixed cost of goods sold 118,000 Variable cost of good

Semmy [17]

The gross profit of Hex Industries for May under absorption costing is $604,000.

<h3>What is absorption costing?</h3>

Under absorption costing, the total or full costs of manufacturing or (variable and fixed) cost of goods sold are included when determining the gross profit.

<h3>Data and Calculations:</h3>

Sales $ 990,000

Variable cost of goods sold 268,000

Fixed cost of goods sold 118,000

Total cost of goods sold = $386,000

Gross profit = $604,000 ($990,000 - $386,000)

Fixed selling and administrative costs 118,000

Variable selling and administrative costs 143,000

Total period costs = $261,000 ($118,000 + $143,000)

Net income = $343,000 ($604,000 - $261,000)

Thus, the gross profit of Hex Industries for May under the absorption costing method is $604,000.

Learn more about the absorption costing method at brainly.com/question/14609187

#SPJ1

4 0

2 years ago