For conventional industrially produced food, society decides negative environmental costs (i. e. non-point source pollution) and negative social costs (i. e. deaths from e. coli) need to be internalized in the market price of conventional food. if these negative externalities are accounted for (i. e. internalized), what is the old equilibrium point and what happens to the market supply for conventional food after accounting for these externalized costs? assume conventional food companies are directly taxed.

Jacob is a member of wcc (an llc taxed as a partnership). jacob was allocated $155,000 of business income from wcc for the year. jacob’s marginal income tax rate is 37 percent. the business allocation is subject to 2.9 percent of self-employment tax and 0.9 percent additional medicare tax. (round your intermediate calculations to the nearest whole dollar a) what is the amount of tax jacob will owe on the income allocation if the income is not qualified business income? b) what is the amount of tax jacob will owe on the income allocation if the income is qualified business income (qbi) and jacob qualifies for the full qbi duduction?