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As of 2015, ranches were taxed at 15 percent for income up to $50,000; at 21 percent for income ranging from $50,000 to $79,000; at 28 percent for taxable income $79,000 to $89,000; at 33 percent for income from $89,000 to $148,000, and so on.
Suppose that you have revenues of $191,800 and operating expense of $71,400.
How much tax is paid on the first $79,000 of taxable income?
A t-statistic:
An auto-service establishment has estimated its monthly cost function as follows: What price should the firm charge to realize the targeted profit? What would be its (cost-based) markup ratio? Now suppose the demand curve the firm faces is: Q = 3000 ..
Problem 1: David has $50 to spend on chocolate (X) and ice cream (Y). The price of chocolate, PX, is $5, and the price of ice cream, PY, is $8. His utility function for chocolate and ice cream is given by U = 2X1/4Y1/5.
Since the end of the Great Recession in 2009 the number of new households established has increased, it became increasingly difficult to obtain a mortgage loan to purchase a house, and the economy has been expanding increasing household income. How i..
If a firm experiences diminishing marginal productivity of labor, the marginal product: Why?
Why does Penny A. Robinette say that segregating HIV-positive inmates is both ethical and efficient? What are the advantages of mass screening for AIDS and segregation? What does Robinette see as the dangers for both inmates and guards of integrating..
The equation for the original demand curve is Q=50-6.25P. Find the new demand equation when demand increases by 20% (Round to one decimal place). Q=___ - ___P. Find the new equilibrium price and quantity after demand increases 20%. P= ___ Q=___
What is the difference between price ceiling and a price floor? If a price ceiling for a good is set below the market equilibrium, what will happen to the quality and future availability of the good? Explain.
Suppose that the price of Hershey’s chocolate increases. What would happen to equilibrium price and quantity in the market for Godiva chocolate? Be able to draw the graph that illustrates your answer.
Describe the goals of the factory owners? Describe the goals of the employees? Describe the problem caused by the scarcity. What is the price of a life.
The president of your college believes that the cost of a college education is far too expensive for students to afford and has decided.
The owners decide to begin spending immediately a rather large sum on advertising designed to decrease elasticity.
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