2) May regulate the people and instrumentalities that work and travel the channels of interstate commerce. (airline pilots, flight attendants, planes, etc.)
3) May regulate activities that substantially affect interstate commerce.
Court will uphold congressional regulation of economic or commercial activity IF congress had a rational basis for concluding that the class of activities, in the aggregate, has a substantial effect on interstate commerce.
NOTE: this is an easy standard to meet. However, IF NOT commercial/economic, courts will NOT aggregate to find substantial effect and standard becomes extremely difficult to meet.
1) there is an "essential nexus" between the "public need or burden" to which the proposed development contributes and the condition exacted.
2) the government makes "some sort of individualized determination" that it is roughly proportional, both in nature and extent of the impact.
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During the current year, Ramirez Developers disposed of plant assets in the following transactions:
Feb. 10 Office equipment costing was given to a scrap dealer at no charge. At the date of disposal, accumulated depreciation on the office equipment amounted to .
Apr. 1 Ramirez sold land and a building to Claypool Associates for , receiving cash and a five-year, 9 percent note receivable for the remaining balance. Ramirez's records showed the following amounts: Land, $50,000; Building,; Accumulated Depreciation: Building (at the date of disposal), $250,000.
Aug. 15 Ramirez traded in an old truck for a new one. The old truck had cost, and its accumulated depreciation amounted to . The list price of the new truck was , but Ramirez received a trade-in allowance for the old truck and paid only in cash. Ramirez includes trucks in its Vehicles account.
Oct. 1 Ramirez traded in its old computer system as part of the purchase of a new system. The old system had cost , and its accumulated depreciation amounted to . The new computer's list price was . Ramirez accepted a trade-in allowance of for the old computer system, paying down in cash and issuing a one-year, 8 percent note payable for the balance owed.
b. Will the gains and losses recorded in part a above affect the gross profit reported in Ramirez's income statement? Explain.
The financial department for the company in Problems and established the following cost function for producing and selling thousand notebook computers: thousand dollars (A) Write a profit function for producing and selling thousand notebook computers and indicate its domain. (B) Complete Table , computing profits to the nearest thousand dollars.
(C) Plot the points in part (B) and sketch a graph of the profit function using these points.