Nikki works for the Shine Company, a retailer of upscale jewelry. How much taxable income does Nikki recognize under the following scenarios?

a.
Nikki buys a diamond ring from Shine Company for $13,400 (normal sales price, $17,790; Shine Company’s gross profit percentage is 40%).

b.
Nikki receives a 35 percent discount on jewelry restoration services offered by Shine Company. This year, Nikki had Shine Company repair a set of antique earrings (normal repair cost $890; discounted price $578.50). (Round your answer to 2 decimal places.)

Identify which of the twelve basic functions listed below fit the description given.

Which of the following statements about brand names is true? brand names give the seller an incentive to provide consistently high-quality products and services in order to protect the reputation of the brand. brand names are always economically wasteful since they dupe consumers into buying more expensive goods and services that are no different from generic versions. it is always rational to prefer brand names over generic substitutes. read the following example and determine whether it illustrates a common critique or defense of advertising. musashi sees a commercial for a brand x clothing company that depicts the wearers of the clothes out having a good time with friends. although he doesn't particularly need new clothes, the commercial prompts him to buy a brand x t-shirt.

Which of the following has the largest impact on opportunity cost