1. Which is the subchapter of the Code containing Code Section 303?

2. What is the Internal Revenue Code section for a qualified dependent?

3. J. C. has been a professional gambler for many years. He loves this line of work and believes the income is tax-free.

- Is J.C. Correct? What court cases can you find that supports your position?

Anna owns the Sweet Alps Chocolate store. She charges $10 per pound for her hand made chocolate. You, the economist, have calculated the elasticity of demand for chocolate in her town to be 2.5. If she wants to increase her total revenue, what advice will you give her and why?  USE DIAGRAMS AND ECONOMIC TERMS TO ANSER YOUR QUESTION

1. Company PVFV sells shoes at an average price of $100. The cost to produce each pair of shoes is $40. The company has annual fixed costs of $40,000.

Four questions:

1. What is the breakeven in terms of unit sales? Show calculations using 2 different methods.
2. Include a written description of how the two methods approach the problem.
3. What is the breakeven in terms of sales revenue?

Question 1

On December 15, 2015, a public company receives an order from a customer for services to be performed on December 28, 2015. Due to a backlog of orders, the company does not perform the services until January 3, 2016. The customer pays for the services on January 6, 2016. When should revenue be recorded for the company? Why (support your argument with a principle from the textbook)?

A survey asks a random sample of 1500 adults in Ohio if they support an increase in the state sales tax from 5% to 6%, with the additional revenue going to education. Let P denote the proportion in the sample who say they support the increase. Suppose that 11% of all adults in Ohio support the increase. The standard deviation of the sampling distribution is..? Round your answer to four decimal places.

The next two questions refer to the following fictional financial statement from Sharpie Markers, who sells their markers directly to consumers for $2/marker.

Revenue:                   $500,000

Plastic:                       $200,000

Ink:                              $1,000

Advertising:               $5,000

Overhead:                 $1,000

Depreciation:             $25

How many additional pens would Sharpie have to sell to maintain their current contribution to the organization if they invest $25,000 in advertising?

Your business partner is strongly opposed to your proposal to charge your largest customers lower prices for your web-based services than you will charge your smaller customers. Your business partner is arguing it is unethical. Explain why both customers will be satisfied with the deal? What kind of price discrimination is this type of segmentation? How will the plan increase revenue?

1. Debate the issue of freedom of speech on the Internet against the need to protect intellectual property.

2. What is The Pirate Bay’s business model? What are its revenue sources?

3. Do you think countries where people cannot afford to pay a hefty monthly fees, is it an advantage to have access to websites like TPB? What can be the possible benefits and harm in doing so.

The demand function for a particular product is given by D(x)=3x2−7x+110‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾√D(x)=3x2−7x+110 dollars, where x is the number of units sold. What is the marginal revenue when 44 items are sold? Round your answer to 2 decimal places.

D(x)=3x2−7x+110‾‾‾‾‾‾‾‾‾‾‾‾‾‾‾√t

thats a suqare root over the numbers