Examlex
Hammond Inc., sells a building that it purchased in 2001 for $1,500,000. The building cost $1,000,000 and had an adjusted basis of $700,000 at the date of the sale.
I.Hammond has an $800,000 Section 1231 gain on the sale.
II.Hammond must report $300,000 of Unrecaptured Section 1250 gain.
Marginal Rate of Substitution
The rate at which a consumer is willing to trade one good for another while maintaining the same level of utility.
Pareto Optimal
An arrangement of resources where it is unworkable to elevate any person’s or preference's state without concurrently depreciating another’s.
Blue Price
This term does not have a widely recognized definition and could refer to specific market jargon or a particular pricing strategy.
Ambrosia
In Greek mythology, ambrosia is considered the food or drink of the gods, often depicted as conferring longevity or immortality upon whoever consumed it.
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