Mrs. Smith sold marketable securities with a $80,000 tax basis to her daughter for $60,000 cash. Two years later, her daughter sold the securities through a broker for $90,000. Compute her daughter's gain recognized on sale.

Suppose the production function in an economy is y = k0.5l0.5, where k is the amount of capital and l is the amount of labor. the economy begins with 64 units of capital and 16 units of labor. use a calculator and equations in the chapter to find a numerical answer to each of the following questions. what are the wage and the rental price of capital? the wage is equal to unit(s) of output and the rental price of capital is equal to unit(s) of output.