9. a price floor is likely to cause deadweight loss because: a) buyers incur additional search costs looking for the scarce good. b) the quantity of the good being bought and sold is less than the equilibrium quantity. c) a black market emerges and sellers sell the good at prices above the price floor. d) some buyers who want to buy at the controlled price are unable to find a seller willing to sell at that price.
Answers
A price floor is likely to cause a deadweight loss because of B. The quantity of the goods being bought and sold is less than the equilibrium quantity.
A price floor is a government-imposed minimum price on a specific goods or service, which is typically set above the equilibrium price. When the price floor is above the equilibrium price, it creates a surplus, as suppliers are willing to produce more than what buyers demand at the higher price.
This situation leads to inefficiencies in the market, as it prevents the optimal allocation of resources. Deadweight loss occurs when the supply and demand forces do not reach equilibrium, resulting in the loss of potential gains from trade. In this case, the deadweight loss is caused by the reduction in the quantity of the good being bought and sold as a consequence of the imposed price floor.
Consumers who are willing to buy at a lower price cannot do so, while suppliers who could sell at a lower price cannot find enough buyers. Consequently, there is a loss of welfare for both consumers and producers, which could have been avoided if the market was allowed to function without the price floor intervention. Therefore the correct option is B
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Related Questions
Hall, a divorced person and custodian of her 12-year-old child, filed her 2021 federal income tax return as head of a household. She submitted the following information to the CPA who prepared her 2021 return: The divorce agreement, executed in 2016, provides for Hall to receive $3,000 per month, of which $600 is designated as child support. After the child reaches 18, the monthly payments are to be reduced to $2,400 and are to continue until remarriage or death. However, for the year 2021, Hall received a total of only $5,000 from her former husband. Hall paid an attorney $2,000 in 2021 in a suit to collect the alimony owed. In June 2017, Hall's mother gifted her 100 shares of a listed stock. The donor's basis for this stock, which she bought in 1985, was $4,000, and market value on the date of the gift was $3,000. Hall sold her stock in July 2017 for $3,500. The donor paid no gift tax.During 2017, Hall spent a total of $1,000 for state lottery tickets. Her lottery winnings in 2017 totaled $200.Hall earned a salary of $25,000 in 2017. Hall was not covered by any type of retirement plan, but contributed $2,000 to an IRA in 2017.In 2017, Hall sold an antique that she bought in 1995 to display in her home. Hall paid $800 for the antique and sold it for $1,400, using the proceeds to pay a court‐ordered judgment.Hall paid the following expenses in 2017 pertaining to the home that she owns: realty taxes, $3,400; mortgage interest, $7,000; casualty insurance, $490; assessment by city for construction of a sewer system, $910; interest of $1,000 on a personal, unsecured bank loan, the proceeds of which were used for home improvements. Hall does not rent out any portion of the home. Hall's $2,000 contribution to an IRA should be treated as
a. A deduction from adjusted gross income not subject to the 2% of adjusted gross income floor.
b. A deduction from adjusted gross income subject to the 2% of adjusted gross income floor.
c. An adjustment to income in arriving at adjusted gross income.
d. Non-deductible, with the interest income on the $2,000 to be deferred until withdrawal.
Answers
The $2000 contribution to an IRA should be treated as an An adjustment to income in arriving at adjusted gross income.
The reason Hall has to go with this option
The individuals that are not in a retirement plan of a company have the option of deducting their cash contributions to their own retirement accounts.
They are able to do this given that the money is 6000 dollars or a hundred percent of their gross income.
Taxes are not paid on interest in this type of account till the earnings from the retirement plan is distributed.
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When an investor purchases stock, he or she becomes a(n) __________ of the issuing company.
Answers
When an investor purchases stock, he or she becomes an owner of the issuing company.
What is a stock?A stock is a general term used to describe the ownership certificates of any company. A share, on the other hand, refers to the stock certificate of a particular company. Holding a particular company's share makes you a shareholder. Stocks are of two types—common and preferred.All publicly traded companies issue common stock. Some companies also issue preferred stock, which exposes you to somewhat less risk of losing money, but also provides less potential for total return.
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White says, “Millions of boomers did not land here because of too many trips to Starbucks.” Explain this statement. What conditions led to boomers ending up in with financial issues?
Answers
Answer:
They dealt with decades of flat and falling wages, disappearing pensions, and high costs on housing, education, and health-care.
Explanation:
Why do corporate sponsors pay athletes and entertainers to use their products?
Answers
Answer:
It increases brand visibility, recognition, and associates it with someone successful and popular.
Explanation:
If athletes could use performance-enhancing drugs then one athlete could have an unfair advantage over another, making he/she more marketable.
Why does demand rise when house prices increase? (Macroeconomics)
Answers
Answer: If house prices rise, then the wealth effect is likely to cause an increase in consumer spending. This will cause higher Aggregate Demand (AD), and it is likely to cause an increase in Real GDP and a higher rate of economic growth.
Explanation:
an employee can be dismissed if their job surplus to requirements' outline why this state ment is false
Answers
Question #1
Multiple Choice
What is it called when a small number of companies control more than 40 percent of a market?
O monopoly
O oligopoly
O competitive market
duopoly
Question # 2
Fill in the Blank
Answers
Answer:
Oligopoly.
Explanation:
An oligopoly can be defined as a market structure comprising of a small number of firms (sellers) offering identical or similar products, wherein none can limit the significant influence of others.
Hence, it is a market structure that is distinguished by several characteristics, one of which is either similar or identical products and dominance by few firms.
The characteristics of an oligopolistic market structure are;
1. Mutual interdependence between the firms.
2. Market control by many small firms.
3. Difficult entry to new firms.
According to the concentration ratio, when a small number of companies control more than 40 percent of a market, it is called an oligopoly.
The most basic effect that an import tariff has is to raise domestic prices in the country imposing the tariff
Answers
Answer:
true
Explanation:
When the world price is lower than the domestic price of a good, domestic producers will need to lower prices in order to compete with imports. Tariffs artificially increase the price of imports, which means that domestic producers can charge an artificially high price for their goods. Tariffs always hurt consumers and industries that need to import materials or components.
Now suppose firm x undertakes a process innovation that reduces its marginal cost of production from $20 to $15. the fixed cost of undertaking this process innovation is f > 0. is this a tough commitment or a soft commitment? why? for what values of f would it makes sense for firm x to make this commitment?
Answers
Answer:
(A). It is a tough commitment.
(B). when the value of f is less or equal to 198.
Explanation:
So, we are given from the question above that;
=> there is reduction in the marginal cost of production from $20 to $15.
=> Also, the fixed cost of undertaking this process innovation is f > 0.
Recall that the demand functions is given as;
Qx = 80 – 2Px + Py. ------------------(**).
Qy = 80 – 2Py + Px a).---------------------(***).
Hence, if we Differentiate πx with respect to Ax we will have that;
(Px - 15) × (-2) + ( 80 - 2Px + Py) = 0. ----------------------------------------------------------(1).
=> 110 + Py = 4 × Px.
Solving for Py and Px using the Bertrand equilibrium gives;
Px = 37.3 and Py = 39.3.
If we slot in the values of Py and Px above into the demand function in equation (**) and (***) we will have;
Qx = 44.7 and Qy = 38.7.
Before innovation = (40 - 20) × 40. = 800
Then, (39.3 - 20) × 38.7 = 747.3 is the after innovation.
(37.3 - 15) × 44.7 - f.
=> 997.5 - f (after innovation).
The values of f would it makes sense for firm x to make this commitment when;
after innovation > before innovation.
997.5 - f > 800.
=>f is less or equal to 198.
If a student identifies "family doesn't have enough money for college" as a barrier to her long-term education goal, which of the following is not a sensible solution?
1. Change long-term career goal to a field that doesn't require college.
2. Research student loans and other grants online
3. Contact the college about scholarship opportunities.
4. Consult a recruiter about ROTC programs or the G.I. Bill.
Answers
Answer:
A.
Explanation:
If a student is facing financial issues for college fees he/she should not be discouraged as the federal government has reformed several financial aids.
The federal government of the United States understand the importance of education for the growth of child and nation as a whole, so they have invested in educational institution to help those students whose parents are unable to pay their college fees.
The unwise idea in such situation is to change long-term career goal. The student should not do this. Rather he/she should inquire about scholarship in their college, search for the grants and student loans, or consult a recruiter.
Therefore, option A is the correct answer.
will domestic producers in mersey continue to sell soccer balls to consumers in mersey for $20? why or why not? what does that imply for the equilibrium price for soccer balls in mersey?
Answers
To determine whether domestic producers in Mersey will continue to sell soccer balls to consumers in Mersey for $20, we need to consider the factors that influence pricing decisions and equilibrium in the market.
If the cost of production for soccer balls remains stable and there are no significant changes in factors such as input costs, labor wages, or market conditions, domestic producers may have the incentive to continue selling soccer balls at $20 if it allows them to cover their costs and earn a reasonable profit margin. However, if there are changes in the market dynamics, such as increased competition or changes in consumer demand, producers may need to adjust their pricing strategies.
The equilibrium price for soccer balls in Mersey is determined by the interaction of supply and demand. If the current price of $20 is in equilibrium, meaning that the quantity demanded by consumers matches the quantity supplied by producers, there may be no immediate pressure for a price change. However, if there are shifts in supply or demand, the equilibrium price may be affected.
For example, if there is an increase in production costs for soccer balls, domestic producers may need to increase the price to maintain profitability. Conversely, if there is a decrease in production costs or a decrease in demand, producers may lower the price to stimulate sales and maintain market share.
Ultimately, the decision of whether domestic producers in Mersey will continue to sell soccer balls at $20 depends on a variety of factors, including production costs, competition, consumer demand, and profit considerations. Changes in any of these factors can influence pricing decisions and potentially impact the equilibrium price for soccer balls in Mersey.
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ANSWER THESE AND ILL MAKE YOU BRAINLIEST!
1.What never asks a question but gets answered all the time?
2.What word would you use to describe a man who does not have all his fingers on one hand?
3.What can one catch that is not thrown?
4.A girl fell off a 50-foot ladder but didn’t get hurt. How come?
5.What starts with “e” and ends with “e” but only has one letter in it?
6.How can a girl go 25 days without sleep?
7.You spot a boat full of people but there isn’t a single person on board. How is that possible?
8.If you have a bowl with six apples and you take away four, how many do you have?
Answers
A ringing phone or any type of notification sound. The word "disabled" or "handicapped" could be used to describe a man physically who does not have all his fingers on one hand, but it's important to use respectful language and acknowledge that individuals with disabilities are just as capable and valuable as those without.
A cold or a virus.
The girl fell physically off the bottom rung of the ladder.An envelope.
It's not physically possible for a person to go 25 days without sleep. The longest recorded time a person has gone without sleep is 11 days and 25 minutes.
All the people on the boat are married.You have four apples.
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In 2022, nina contributes 10 percent of her $100,000 annual salary to her 401(k) account. She expects to earn a 7 percent before-tax rate of return. Assuming she leaves this (and any employer contributions) in the account until she retires in 25 years, what is nina's after-tax accumulation from her 2022 contributions to her 401(k) account?
Answers
The after-tax accumulation from Nina's 2022 401(k) contributions is roughly $34,314.59.
The actions below must be taken in order to determine Nina's after-tax accumulation from her 401(k) account contributions in 2022:
Determine Nina's before-tax contribution in step one:
Assuming Nina contributes 10% of her $100,000 yearly earnings, her pre-tax contribution would be $10,000.
Determine Nina's accumulation before to taxes step two:
When Nina makes 401(k) contributions, she anticipates earning a 7% before-tax rate of return, thus her before-tax accumulation after 25 years is: $10,000 x (1 + 0.07)25 = $45,752.79
Determine Nina's after-tax growth in step Three:
We must take into account the tax ramifications of Nina's contributions and profits in order to determine her after-tax accumulation. The way Nina's 401(k) contributions and earnings are taxed will vary depending on her tax rate, when she retires, and the current tax legislation.
Nina's after-tax accumulation is $45,752.79 x (1 - 0.25) = $34,314.59 assuming a 25% tax rate.
Consequently, Nina's 401(k) account's after-tax accumulation from her 2022 contributions is roughly $34,314.59.
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According to the reading, what might support a premium pricing strategy? a) Forming your business as a corporation b) Fresh ingredients c) 24 hour operation d) None of the above
Answers
Answer: Fresh ingredients
Explanation:
Which example is the best demonstration of initiative?
A. You don’t complain about the heavy workload you’ve been assigned.
b. You offer to take on some extra work when a coworker is out sick.
c. You agree to stay late to finish your work because you took a long lunch.
d. You always think carefully about a bad situation before proposing a solution.
Answers
Answer:
B
Explanation:
initiative isn't something we need to do but rather want to for someone or yourself, maybe to help.
Answer:
bbbbbbbbbbb
Explanation:
Sold goods whose list price is 5000 to rakesh at 6% trade discount and 1% cash discount he paid 60% price in cash jornal entry
Answers
The journal entry will be:
Debit: Accounts Receivable 2766
Credit: Sales 5000
Debit: Discounts Allowed 317
Credit: Trade Discount Allowed 300
Credit: Cash Discount Allowed 17
How to depict the journal entry?To record the sale of goods to Rakesh at a trade discount and cash discount, you would make a journal entry to debit Accounts Receivable (for the amount Rakesh will pay on credit) and credit Sales (for the revenue from the sale). The entry would also need to include any applicable discounts.
The trade discount is calculated by multiplying the list price of the goods by the trade discount percentage (6% in this case), so the trade discount would be:
5000 x 6% = 300
The cash discount is calculated by multiplying the list price minus the trade discount by the cash discount percentage (1% in this case), so the cash discount would be:
(5000 - 300) x 1% = 17
The total discounts is trade discount + cash discount
300 + 17 = 317
The amount Rakesh paid in cash would be calculated by multiplying the list price minus the discounts by the percentage he paid in cash (60% in this case), so:
(5000 - 317) x 60% = 2766
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to what extent have the seven principles of supply chain management remained current? what are some of the major changes that have occurred since they were first developed?
Answers
The seven principles of supply chain management have remained current, but some changes have occurred due to advancements in technology, globalization, and increasing customer demands for sustainability and transparency in supply chain operations.
The seven principles of supply chain management were first introduced by David Anderson, Frank Britt, and Donavon Favre in 1997. These principles include customer focus, continuous improvement, strategic alignment, integration, information sharing, supplier partnerships, and network-based. While these principles are still relevant, advancements in technology have led to increased automation, digitization, and the use of data analytics in supply chain management.
Globalization has also led to complex supply chain networks with more players involved, and the increasing demand for sustainability and transparency has resulted in a greater focus on ethical sourcing and supply chain visibility.
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list possible reasons why many new entrepreneurs decide on the unethical choice.
Answers
Answer:
As a business owner and leader, you’re going to have to make a lot of important decisions for your company. On everything from marketing to sales, operations to human resources, your team will look to you for guidance and ask which direction they should go in. In addition to keeping profitability in mind, you also have look at decisions from an ethical standpoint. The role of ethics in decision making affects how you approach decisions, how you decide which action to take and whether or not you need to consult someone else for their viewpoint.
Explanation:
In the NBA, more than 50% of season ticket holders are corporations. A. True B. False
Answers
The statement "In the NBA, more than 50% of season ticket holders are corporations" is true.
It's worth noting that the percentage of season ticket holders who are corporations can vary by team and market. In some cases, the percentage may be much higher than 50%, while in others it may be lower. Nonetheless, corporate season ticket holders are a significant source of revenue for many NBA teams and are often considered valuable partners for business development and marketing purposes. According to a 2018 report by ESPN, more than 50% of NBA season ticket holders are corporations. This is because many companies purchase season tickets as a way to entertain clients or reward employees.
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Please help me to answer any of these questions! Thank you!
Answers
The relationship between age and credit scores appears to be negative, meaning that as age increases, credit scores tend to decrease. This could be because younger people have less credit history and fewer opportunities to establish credit, while older people may have more debt or negative marks on their credit report due to past financial decisions. Other factors that could help explain this relationship include income level, employment status, and financial education.
What is the relationship between age and credit scores?Generally, One possible reason for the rise in the percentage of people with scores of 620 or less in the 30-39 age group could be that this is a time in life when people are more likely to take on significant debt, such as a mortgage or car loan, while also juggling other financial responsibilities like childcare and saving for retirement. This can lead to higher credit utilization rates and a higher risk of missed or late payments, which can lower credit scores.
Despite some variation in credit scores across age groups, the data from the graph suggests that people from all age groups have room for improvement when it comes to credit management. For example, even among the 50 and older age group, where the percentage of people with scores of 620 or less is relatively low, more than a quarter of people still have scores that fall into this range. This highlights the importance of ongoing financial education and responsible credit management practices for people of all ages.
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Supply is perfectly inelastic when the: Please choose the correct answer from the following choices, and then select the submit answer button. Answer choices quantity supplied does not respond at all to a change in the price. quantity supplied responds only slightly to a change in the price. price elasticity is infinity. supply curve is horizontal.
Answers
Supply is perfectly inelastic when the quantity supplied does not respond at all to a change in the price. This means that when the price of a product changes, the quantity of the product supplied by the supplier remains constant.
It is represented on a graph by a vertical supply curve because the quantity supplied does not change despite changes in price. Supply refers to the quantity of a product that producers are willing to supply at different prices in the market. It is one of the two fundamental concepts in microeconomics. The supply of a product is determined by factors such as production costs, technology, resource prices, and the prices of substitute goods.
The law of supply states that, all things being equal, an increase in the price of a product will lead to an increase in the quantity supplied of the product. Conversely, a decrease in the price of a product will lead to a decrease in the quantity supplied. However, this is not always the case when supply is perfectly inelastic.
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Who do you think has the most
influence?
Answers
Answer:
because the influence is an important
Tim received a letter from his state college stating that he had been expelled from the school. The letter stated his finance professor reported him to the Dean's office for cheating and that a committee had decided to expel him. He was reminded in the letter he had been disciplined earlier that same year for plagiarizing a term paper. Tim believes his due process rights have been violated by the college. Discuss what factors should be considered to determine the validity of Tim's claim?
Answers
Answer: He should make an appeal of not given a notice and the neutral fault finding should be introduced
Explanation:
They are something's that Time has to consider to challenge the expulsion already prepared for him. He should make an appeal to a court or a higher authority for a reversal of the decision while doing this he should let the court know that he wasn't notified earlier about schools decision and that a neutral fault finder process should be introduced to investigate the whole scenario.
Money serves as a
measure of
of exchange, is a store of value, and serves a a measure of
Answers
Answer:
Medium of exchange
Store of value
Measure of value
Standard of deferred payments
Explanation:
A reduction in price is sometimes referred to as
Answers
A discount is one expression frequently used to refer to a price reduction. A percentage or dollar amount is subtracted from the original cost of a good or service to provide a discount.
Businesses frequently provide discounts to entice customers to buy their goods or services, especially when there is a fiercer competition or a pressing need to move inventory. There are numerous ways to publicize discounts, including sales, promotions, and coupons.
Another term used to describe a reduction in price is a markdown. A markdown is a reduction in the price of a product that occurs when the item is not selling as quickly as anticipated.
Markdowns are often used by retailers to clear out excess inventory or to make room for new products. Markdowns can be temporary or permanent and can be applied to a single item or to an entire category of products.
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A reduction in price is sometimes referred to as a discount.
What is a reduction?A reduction in price refers to a decrease in the original price of a product or service. It is a common marketing strategy used by businesses to attract customers, increase sales, or move inventory. A reduction in price can take many forms, such as a discount, a sale, a markdown, or a price cut.
The discount or markdown can be expressed as a percentage or a dollar amount. For example, a store may offer a 20% discount on all items or reduce the price of a specific product by $10. The goal of a reduction in price is to make the product or service more appealing to consumers by making it more affordable or offering a better value. This can help businesses increase their market share, build customer loyalty, and ultimately increase revenue.
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The amount of xylene that can be used in household paint is legally limited to 0.03 percent. Anything beyond this amount is hazardous to health and the environment, and considered a legal offense. Consequently, CW Paints Corp. has vouched to make its products as safe as possible. Therefore, it manufactures xylene-free paints even though this increases its costs and reduces the dividends paid to its shareholders in the long run. Which of the following responsibilities is CW Paints Corp. primarily compromising in this scenario?
A) legal responsibilities toward the government
B) economic responsibilities toward its shareholders
C) philanthropic responsibilities toward the local community
D) ethical responsibilities toward the society
Answers
Answer: B) economic responsibilities toward its shareholders
Explanation:
The primary purpose of a company is to maximize shareholder wealth. This means that it is to pursue strategy that would ensure the maximum return to its shareholders. This is also known as its economic responsibility towards shareholders.
Producing xylene-free paints reduces the dividends that are going to shareholders so it would seem that shareholder wealth is not being maximized and they are not getting the maximum return they could get so the company is violating its economic responsibilities towards shareholders. It is for a good cause though.
Scenario #1: A new restaurant on a dock over a bay is trying to figure out its customer patterns. When the weather is nice, the restaurant gets really crowded between noon and 9:00 at night because everyone wants to sit outside. The owners get large crowds of people waiting for those few outside tables. They don’t want to require reservations because they know they get a lot of their business from walk-ins. What could they do to keep the flow smooth during busy times?
Answers
The management of the restaurant can keep the work flow smooth during busy times by:
expanding the existing restaurantemploying more staffs to fast-pace the deliverimprove customer's relation and satisfaction.What do we call a smooth work flow?In layman word, a smooth work flow means a work process that runs smoothly, with no problems in delivering a service. In manufacturing, a smooth flow means the process whereby all the information that is relevant to a manufacturing job is delivered consistently and smoothly through every step of the process starting from sales, planning, design, manufacturing engineering and then production.
This approach of smooth work flow ensures a clearer communication, ownership and accountability at each step of the process as well as a seamless handovers.
By expanding the existing restaurant; the location will have more space to contain the customers during busy period, by employing more staffs to fast-pace the deliver; they will attend to large demands at a time and by improving the customer's relation and satisfaction, this will ensured a seamless customer experience during busy period.
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A company's values relate to such things as
fair treatment, integrity, ethical behavior, innovativeness, teamwork, top-notch quality, superior customer service, social responsibility, and community citizenship.
whether it will emphasize stock price appreciation or higher dividend payments to shareholders, and whether it will put more emphasis on the achievement of short-term performance targets or long-range performance targets.
how it will balance its pursuit of financial objectives against the pursuit of its strategic objectives.
how it will balance the pursuit of its business purpose/mission against the pursuit of its strategic vision.
All of these choices are correct.
Answers
A company's values relate to such things as fair treatment, integrity, ethical behavior, innovativeness, teamwork, top-notch quality, superior customer service, social responsibility, and community citizenship. Thus, option (a) is correct.
What is company's?The term "company" refers to legal entities that are lawfully registered under the Company Act. The company's major goal is to increase profits while maintaining goodwill.
A company's value or goodwill increased in the market are fair treatment to the employees, ethical behavior, and the social responsibility, fulfill the social responsibility, the teamwork, ethical behavior, integrity, and community citizenship, and the other things to develop the value in the market.
As a result, the company value increased as basis of the internal and the external behavior. Therefore, option (a) is correct.
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Gibraltar Investment Advisers opened for business last week. Because of the clients brought over from previous affiliations of their IARs, they have started with $94 million under management for various individual and corporate clients. They also signed a contract to manage an additional $10 million for a wealthy individual. Gibraltar will begin managing that individual's portfolio at the beginning of the next calendar quarter. Which of the following best describes Gibraltar's investment adviser registration requirements?
A) Gibraltar would be eligible to register at the federal level.
B) Gibraltar need not register as an investment adviser because it will manage funds for an institutional investor.
C) Gibraltar's only option is to register at the state level because it currently manages less than $100 million in client funds.
D) Gibraltar must register with the state(s) and then, within 90 days of the receipt of the additional $10 million, must register with the SEC.
Answers
Answer:
A) Gibraltar would be eligible to register at the federal level.
Explanation:
In the case when an investment adviser would anticipates having at minimum $100 million under the managment within 120 days so it is eligible for becoming a federal covered advisor by registered with the SEC. ALso Gibraltar would have AUM in excess of $100 millon by the starting of the next quarter. In the case when AUM does not reach til $110 million so SEC would not be so important.
Therefore the option a is correct
Krishna is 56 years old; he has contributed to the CPP without interruption for over 30 years. While crossing the street, Krishna was struck by a bus and seriously injured. He is currently hospitalized and on life support and his doctors have informed Krishna's family that it is uncertain as to whether he will awaken from his coma. Assuming at the time of his accident, Krishna was entitled to a CPP retirement benefit of $660, the flat-rate disability amount is $496.36 per month and the maximum monthly disability benefit is $1362.30, how much of a disability benefit will Krishna receive under the CPP? a) 50 b) $865.94 C) $991.36 d) $1156.36
Answers
Option(A) is the correct answer. Krishna will receive a disability benefit of $660 under the CPP.
To determine the disability benefit that Krishna will receive under the CPP, we need to consider a few factors. First, let's calculate the disability benefit based on the provided information:
The flat-rate disability amount is $496.36 per month.
The maximum monthly disability benefit is $1362.30.
Krishna's entitlement to a CPP retirement benefit is $660 per month.
To calculate the disability benefit, we compare the retirement benefit to the flat-rate disability amount and the maximum monthly disability benefit:
The disability benefit will be the lesser of:
The retirement benefit ($660)The flat-rate disability amount ($496.36) plus the retirement benefit minus the flat-rate disability amount.Let's calculate the disability benefit based on the above formula:
Disability benefit = min(retirement benefit, flat-rate disability amount + retirement benefit - flat-rate disability amount)
= min($660, $496.36 + $660 - $496.36)
= min($660, $660)
= $660
Therefore, Krishna will receive a disability benefit of $660 under the CPP.
Option (a) 50, option (b) $865.94, option (c) $991.36, and option (d) $1156.36 are not correct based on the given information. The correct answer is that Krishna will receive a disability benefit of $660 under the CPP.
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Krishna is 56 years old; he has contributed to the CPP without interruption for over 30 years. While crossing the street, Krishna was struck by a bus and seriously injured. He is currently hospitalized and on life support and his doctors have informed Krishna's family that it is uncertain as to whether he will awaken from his coma. Assuming at the time of his accident, Krishna was entitled to a CPP retirement benefit of $660, the flat-rate disability amount is $496.36 per month and the maximum monthly disability benefit is $1362.30, how much of a disability benefit will Krishna receive under the CPP? a) $660 b) $865.94 C) $991.36 d) $1156.36