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Steve Jack and Chelsy Bernard formed a partnership, dividing income as follows: Annual salary allowance to Jack of $50,000. Interest of 9% on each partner's capital balance on January 1. Any remaining net income divided equally. Bernard and Jack had $36,000 and $168,000, respectively, in their January 1 capital balances. Net income for the year was $280,000. How much net income should be distributed to Jack?
A steel manufacturer purchases an iron ore mine and a coal mine.
In Music Ville, the price elasticity of demand for CD players is 1.3, the income elasticity of demand for CD players is 0.4, and the cross elasticity of demand for CD players with respect to MP3's is 0.1. If incomes in Music Ville increase by 15% wit..
During the energy crisis of the 1970s, and again in the last 5 years, Congress bemoaned the “price gouging” and “windfall” profits of the major oil companies. In the 1970s Congress imposed an “excess profits tax” on these companies. If “excess profi..
At the end of the third quarter of 2015, the money supply in the U.S. was $2 trillion. That is, the available currency and deposits in the U.S. during July, August, and September 2015 was two trillion dollars. During the third quarter of 2015, which ..
calculate velocity of money when price level is 10, national quantity of output is $200 billion and money supply is $250 billion Answer must be in detail Explain how Explain how you got answer.
Cindy and Dan share a public good G. Cindy’s preferences are Uc = xc + 2G1/2, and she has income mc. Dan has preferences Ud = xd + 8G1/2, and he has income md. Both x and G have a price of 1. What is the Pareto efficient level of G? Instead Cindy wou..
Connect Andrew Carneige's Wealth and it's Issues and Mother Jones' March of the Mill Children to a larger theme or idea. How do these two documents relate to each other? Wealth and it's Issues talks about how Carneige believes the wealth should be di..
During the year, Belyk Paving Co. had sales of $2,381,000. Cost of goods sold, administrative and selling expenses, and depreciation expense were $1,444,000, $436,900, and $491,900, respectively. What is the company’s net income? What is it's operati..
Suppose the real side of an economy is characterized by: Y = 80K1/2 L1/2 K=100 and L= 100 G = 3000 T = 3000
Panic in paradise: Are high fares the new reality for Hawaii? On March 31, 2008, Hawaii lost 15 percent of its air service as Aloha Airlines and the cheap-flight airline ATA suddenly shut down. Under what conditions the $1,000 fare would be considere..
Wal-Mart charges $20 for the new Ghostbusters DVD and sells 400 copies per month. Then they reduce their price to $18, and sell 500 per month. Assuming a linear demand curve, find the optimal price to charge if the goal is to maximize revenue.
Teresa likes to consume chocolate and yogurt. Her utility function is given by U(x, y) = x0.5y0.5where x and y are the quantities of chocolate and yogurt she consumes. Suppose that her income is $10 and the initial prices for both of the goods is $1...
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