Molly and Jason Were Married

question 15

Multiple Choice

Molly and Jason were married. Their only dependent was Spot, their black standard poodle. Jason died in 2018. Assuming Molly does not remarry, the only legal filing status for Molly in 2019 will be:

• A)single.
• B)married filing separately.
• C)head of household.
• D)qualifying widow.
• E)married filing jointly.

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Definitions:

Profits

The financial gain obtained when the revenues generated from business activities exceed the expenses, costs, and taxes involved in sustaining the activity.

Industry Supply Curve

A graphical representation showing the relationship between the price of a good and the total output of the industry at various prices.

Input Price

The cost associated with procuring the resources needed for production, such as raw materials, labor, and machinery.

MC = MR

The condition where marginal cost equals marginal revenue, often used as a profit maximization rule for firms.