In 2013, A

question 59

Multiple Choice

In 2013, A. Mernick and L. Gold entered into a partnership to develop real estate projects. Due to their respective roles in the business, the partnership agreement specifies a two- phase profit split. The first $90 000 will be split in a ratio of 1:2 to Mernick and Gold, respectively. All profits over $90 000 will be split equally. During 2013, the following transactions took place:
Total partnership profit was $110 000. Mernick took withdrawals of $32 000. Gold took withdrawals of $50 000.
How much profit was credited to Mernick's capital account?

• A)$30 000
• B)$22 000
• C)$40 000
• D)$8 000

Understand the relationship between marginal cost and R&D expenditures in firms.

Comprehend the role of government in financing basic scientific research and its implications on public goods and externalities.

Identify the optimal level of R&D expenditure for firms based on marginal cost and benefit analysis.

Grasp how successful product innovations increase consumer utility and spending efficiency.

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Definitions:

Better Performers

Individuals or entities that achieve superior outcomes or excel in their tasks compared to their peers or expected standards.

Universal Necessities

Fundamental needs or requirements that are common to all humans, regardless of culture or location.

Self-Determination Theory

A psychological theory of motivation that highlights the role of intrinsic motivation in personal development and psychological health.

McClelland's Affiliation Need

The desire to build relationships, feel part of a group, and be liked, which is one of the three social motives according to David McClelland's theory.