What are the best ways to increase revenue and reduce costs in the short run from a micro-economic perspective? in your words. (at least 150 words)

Estate tax is one of sources from which the Government collects revenue. In fact it is one of the significant sources of revenue for the Government. Thus, the proposal of abolishing estate tax entirely will adversely influence the revenue collection of the Government. Hence, there is no question of abolishing the tax completely. However, there is no questions about its effects on wealthy people and the hardship that often they have to face to pay estate taxes on their estate. Thus, the proposal of reducing the rate of estate tax and consider special cases where the estate owners are not in position to pay high amount of such taxes to wave or reduce their liabilities would be helpful to the estate owners. Thus, it should be maintained after necessary modifications to be considerate to the interests of all stakeholders of estate tax.

7-

If demand is ________, a price cut ________ the total revenue.

5- Samantha was willing to pay $10 for a hamburger because she was hungry but she only paid $2.50. What is the consumer surplus Samantha gained from the hamburger?

9-

When the price rises, the firms' producer surplus ________. When the price falls, the firms' producer surplus ________.

The primary area of income statement creativity is the opportunistic classification of revenue, gains, expenses, and losses. Although materiality is defined subjectively, one rule of thumb suggests that the misstatement or omission of an item that falls under a 5% of revenue threshold is not material in the absence of particularly egregious circumstances. Equally important is the appropriate classification of amounts within the statement of comprehensive income and the statement of financial position. The financial statement users have placed greater importance on relevance of individual accounts balances and the overall picture presented by the financial statements.

Required
a) Explain the term materiality and state the circumstances in which a small item (low value) can be termed to being material
b) State the items that can be classified as other comprehensive income (OCI) under the International Financial Reporting Standards framework
c) Discuss whether the absolute usefulness of the financial statements is achievable

a) what are the definitions and business uses of calculating mark up and margin?

sales revenue               168,000
purchase                      (128,000)
Gross profit                     40,000
selling expenses           (20,000)
operating profit               12,800

b) calculate mark up (in percentage to 1 decimal place.

c) Calculate the margin as a % to 2 decimal places

d) what is the operating profit margin percentage of selling expenses is reduced by 30% show this to 2 decimal places.

e) Define the following and provide respective examples.

Explain simple interest and give examples
Explain compound and give examples
Explain Annuities and give examples

1. Find the maximum of the following total revenue function (TR) by finding out (a) the output ?∗ value where the first order condition is satisfied; and (b) the maximum total revenue.

??(?)=32?−?2

2. Find the maximum of the following profit function by finding out (a) the output ?∗ value where the first order condition is satisfied; and (b) the maximum profit.

?(?)=−?33−5?2+2000?−326.

3. Find the minimum of the average cost function given following total cost function by finding out (a) the output ?∗value where the first order condition is satisfied; and (b) the minimum average cost.

??(?)=?3−21?2+500?

4. Given the following total revenue function ??(?) and the total cost function ??(?), maximize profit ?(?) by following steps

(a) set up the profit function

?=??(?)−??(?)

(b) the output value where the profit is at a relative extremum; and

(c) the maximum profit value.

??(?)=4350?−13?2

??(?)=?3−5.5?2+150?+675.

(please answer all)

Exercise 121

Fill in the dollar changes caused in the Investment account and Dividend Revenue or Investment Revenue account by each of the following transactions, assuming Crane Company uses (a) the fair value method and (b) the equity method for accounting for its investments in Hudson Company. (Enter negative amounts using either a negative sign preceding the number e.g. -45 or parentheses e.g. (45). Do not leave any answer field blank. Enter 0 for amounts.)

With equity method of accounting, equity investment means there is controlling ownership and revenue increased the investment account and didvidends reduce the equity account. How does this relate with consolidation?