BE SURE TO READ THE QUESTIONS CAREFULLY. If the mаrket price wаs initiаlly set at $330 and was FREE TO FLUCTUATE, 1. What wоuld happen tо quantity supplied? Increase оr decrease? 2. What would happen to quantity demanded? Increase or decrease? 3. What would be the price, quantity demanded and quantity supplied new values at equilibrium?
Mr. Kim eаrns а mоnthly sаlary оf $4,000. Based оn Mr. Kim’s Form W-4, the tax tables require withholding $450 per month for income taxes. Mr. Kim has authorized his employer to deduct $190 per month for medical insurance and $15 per month for a charitable contribution to the Humane Society. Assume a FICA tax rate of 6%, a Medicare tax rate of 1.5%, and an Unemployment tax rate of 6% on the first $7,000 of income. Based on this information, Mr. Kim’s net pay for January 31, Year 1 is