Jason and Peg Are Married and File a Joint Return

question 120

True/False

Jason and Peg are married and file a joint return.Both are over 65 years of age and Jason is blind.Their standard deduction for 2011 is $15,050 ($11,600 + $1,150 + $1,150 + $1,150).

Understand the definition and characteristics of oligopoly.

Differentiate between homogeneous and differentiated oligopoly.

Recognize the importance of mutual interdependence in oligopolistic markets.

Understand the impact of market structure on pricing and output decisions.

---

Definitions:

Estate

All of the money and property owned by a particular person, especially at death.

Equitable Estoppel

A legal principle preventing a party from asserting a claim or right which contradicts what they previously said or agreed to by their actions.

Statute of Frauds

A legal principle that requires certain types of contracts to be in writing and signed by all parties involved to be enforceable.

Improvements

Enhancements made to a property or goods that increase their value or utility.