Penny, a full-time biochemist, loves stock car racing. to feed her passion, she bought a used dirt-track car and has started entering some local dirt-track races. the prize money is pretty small ($1,000 for the winner), but she really is not in it for the money. penny reported the following income and expenses from her nights at the track: prize money $2,500 expenses: transportation from her home to the races 1,000 depreciation on the dirt-track car 4,000 entry fees 3,500 oil, gas, supplies, repairs for the dirt-track car 2,050 what are the tax effects of penny’s racing income and expenses assuming that the racing activity is a hobby for penny?

Which critical success factor improves with reduced cycle time, better quality standards, and improved efficiency when an is is implemented?

Suppose a firm faces a fixed price of output, 푝푝= 1200. the firm hires workers from a union at a daily wage, 푤푤, to produce output according to the production function 푞푞= 2퐸퐸12. there are 225 workers in the union. any union worker who does not work for this firm is guaranteed to find nonunion employment at a wage of $96 per day. a.what is the firm’s labor demand function? b.if the firm is allowed to choose 푤푤, but then the union decides how many workers to provide (up to 225) at that wage, what wage will the firm set? how many workers will the union provide? what is the firm’s output and profit? what is the total income of the 225 union workers? c.now suppose that the union sets the wage, but the firm decides how many workers to hire at that wage (up to 225). what wage will the union set to maximize the total income of all 225 workers? how many workers will the firm hire? what is the firm’s output and profit? what is the total income of the 225 union workers? [hint: to maximize total income of union, take the first order condition with respect to w and set equal to 0.]

Your subscription to investing wisely weekly is about to expire. you plan to subscribe to the magazine for the rest of your life, and you can renew it by paying $85 annually, beginning immediately, or you can get a lifetime subscription for $620, also payable immediately. assuming that you can earn 6.0% on your funds and that the annual renewal rate will remain constant, how many years must you live to make the lifetime subscription the better buy?