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Teresa is a civil engineer who uses her automobile for business. Teresa drove her automobile a total of 14,960 miles during 2015, of which 85 percent was business mileage. The actual cost of gasoline, oil, depreciation, repairs, and insurance for the year was $8,467. a. How much is Teresa’s transportation deduction based on the standard mileage method? $ b. How much is Teresa’s transportation deduction based on the actual cost method? $ c. Which method should Teresa use to calculate her transportation deduction? Why?
Illustrate what is M1 in Iron mania. Illustrate what is M2 in iron mania.
If there is a decrease in demand for a product in a purely competitive industry, it results in an industry contraction that will end when the product price is:
Consider the following duopoly game: each of 2 firms can produce as much of a good as he wishes at marginal cost 1 (i.e., producing q units costs 1q = q in total), and the market demand curve is given by Q(p) = 10p - p. Find the inverse market demand..
Suppose both product and factor markets are competitive, why is the labour demand curve downward sloping? How does technological progress shift the labour demand curve? Professors, lawyers and doctors receive similar amounts of education, why are pro..
Suppose you will receive $100 in six months and have access to an account that earns 1/2% per month. If you deposited the money into the account how much would you have 18 months from now?
A price index for nonresidential construction was 14 in 1949, 92 in 1987, and 114.5 in 2000. According to these numbers, what did the hospital cost approximately.
1. is the industry or industries in which the firm operates conducive to abnormally high rates of return?2. does the
Some say: “It’s not true there are substitutes for anything. If you want omelets, you need eggs. There are no substitutes for eggs in an omelet.” Analyze this argument critically. Use relevant economic concept(s) to justify your answer. (The assertio..
Compute the gross price paid by consumers after a per-ticket tax of $4. Calculate the after-tax price received by ticket sellers.
Discuss the various ways federal, state, and local governments attempt to promote education as equality of opportunity. What are the some positives and negatives you see in the involvement of government in the education system?
Identify three economic variables that create differences in market interest rates on assets and/or liabilities. (b) For most companies, are business loan interest rates lower than the interest rates on personal loans for most U.S. households
"Devoting a larger share of national output to investment would help restore rapid productivity growth and rising living standards." Do you agree with this claim? Explain, using the Solow model.
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