-View government as a tool for social change
-Typically believe that government is necessary to protect individuals from being harmed by others, but also recognize that government itself can pose a threat to liberty
-Favor a regulated economy
-Willingness to embrace/ accept broad social change
-Defense of civil rights and social equality
-Minimal government intervention in the economy
-Belief that private economy can heal social ills
-Social conservatives favor government regulation of personal and familial decisions in areas such as reproductive rights and marriage
-Fiscal conservatives seek to limit government spending
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A company has determined that its profit for a product can be described by a linear function. The profit from the production and sale of 150 units is $455, and the profit from 250 units is$895.
a. Write the equation of the profit function for this product.
b. How many units must be produced and sold to make a profit on this product?
Donald Jefferson and his wife, Maryanne, live in a modest house located in a Los Angeles suburb. Donald has a job at Pittsford Cast Iron that pays him $50,000 annually. In addition, he and Maryanne receive $2,500 interest from bonds that they purchased 10 years ago. To supplement his annual income, Donald bought the rental property a few years ago. Every month he collects $3,500 in rent from all of the property he owns. Maryanne manages the rental property, and she is paid $15,000 annually for her work. During 2015, Donald had to have the plumbing fixed in the houses that he rented as well as the house in which he and Maryanne live. The plumbing bill was $1,250 for the rented houses and $550 for the Jeffersons' personal residence. In 2015, Donald paid $18,000 for mortgage interest and property taxes- $12,650 was for the rental houses, and the remaining $5,350 was for the house occupied by him and his wife. The couple has three children who have graduated from medical school and now are working as physicians in other states.
What is Jeffersons' tax liability for 2015?