Examlex
In 2009,grandparents contribute jointly owned funds to a § 529 qualified tuition plan on behalf of their granddaughter.The maximum annual exclusion allowed to them is $65,000 ($13,000 * 5 years).
Purely Competitive Seller
A seller in a market structure characterized by many sellers offering identical products, where no single seller can influence the market price.
Total Fixed Cost
The sum of all costs that remain constant regardless of the level of production or output in the short term.
Variable Cost
Costs that vary in total with changes in the level of production or other business activities.
Market Price
The existing cost for purchasing or selling an asset or service on the open market.
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