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Lady bird [3.3K]
1 year ago
13

When the elasticity of demand for a product is __________ the elasticity of supply, consumers pay __________ of the tax on the p

roduct.
Business
1 answer:
mezya [45]1 year ago
6 0

When the elasticity of demand for a product is smaller than the elasticity of supply, consumers pay majority of the tax on the product.

The way the tax burden is distributed between purchasers and sellers is known as the tax incidence.

The relative price elasticity of supply and demand determines the tax incidence.

Usually, both the producers and the consumers of the taxed goods bear the incidence, or burden, of the tax.

But all we have to do is look at the elasticity of demand and supply to determine which group will be carrying the bulk of the load.

The majority of the tax burden falls on consumers when supply is more elastic than demand.

The majority of the tax burden falls on the producers when demand is more elastic than supply.

The less elastic the demand and supply are, the higher the tax revenue.

Hence, When the elasticity of demand for a product is smaller than the elasticity of supply, consumers pay majority of the tax on the product.

Learn more about elasticity of demand:

brainly.com/question/24961010

#SPJ1

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Askew Company uses a periodic inventory system. The June 30, 2018, year-end trial balance for the company contained the followin
Shtirlitz [24]

Answer and Explanation:

a. The computation of the cost of goods sold is shown below:

Beginning inventory               $32,800

Add: Net purchase

Purchase $248,000

Less: Purchase discount -$6,800

Less: Purchase returns -$10,800

Add: Freight in $18,600

Total net purchased               $249,000

Less: ending inventory          -$40,800

Cost of goods sold                 $241,000

2. The year end adjusting entry is

Cost of goods sold Dr $241,000

Ending inventory  Dr $40,800

Purchase discount Dr $6,800

Purchase returns Dr $10,800

            To Beginning inventory $32,800

            To Purchase $248,000

            To freight in $18,600

(Being the cost of goods sold is recorded)

4 0
3 years ago
You decide that you need more information on how employees feel about diversity, so you create a paper and pencil survey on empl
fgiga [73]

Answer:

Discrimination against women and other minorities

Explanation:

The most likely ground for concern would be Discrimination against women and other minorities.

Diversity in the workplace means that an organization employs a diverse team of persons that reflects the views of the society in which it exists and operates. Through diversity and inclusion, no employee is treated unfairly on account of their gender, race, ethnicity.

Discrimination in labor markets, occurs when workers who have the same skill levels by education, experience, and expertise receive different pay because of their race or gender.

4 0
3 years ago
Question 5 of 10
deff fn [24]

Answer:

A.

Explanation:

Another name for specialization, this is when an individual focuses

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6 0
2 years ago
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Selling, general, and administrative expenses were $59,000; net sales were $268,100; interest expense was $6,300; research and d
ozzi

Answer:

$35,800

Explanation:

Gross Profit = Net sales - Cost of goods sold

                   = $268,100 - $145,500

                   = $122,600

Total Operating Expense:

= S, G & A Expenses + R&D expense

= $59,000 + $27,800

= $86,800

Operating Income = Gross Profit - Total Operating Expense

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                               = $35,800

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A portfolio is comprised of equal weights of two stocks labeled Stock X and Stock Y. The covariance between Stock X and Stock Y
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