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2 years ago

What would be the effect of a decrease in government taxes on a good's supply curve, ceteris paribus?

1 answer:

3 0

What would be the effect of a decrease in government taxes on a good's supply curve, ceteris paribus shift to the right

Supply curve shift:

Changes in production cost and related factors can cause an entire supply curve to shift right or left. This causes a higher or lower quantity to be supplied at a given price.

A supply curve shows how quantity supplied will change as the price rises and falls, assuming ceteris paribus—no other economically relevant factors are changing. If other factors relevant to supply do change, then the entire supply curve will shift. A shift in supply means a change in the quantity supplied at every price.

The ceteris paribus assumption :

A demand curve or a supply curve is a relationship between two, and only two, variables: quantity on the horizontal axis and price on the vertical axis. The assumption behind a demand curve or a supply curve is that no relevant economic factors, other than the product’s price, are changing.

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An individual with a single filing status has an annual income earning of $63,475. Use the 2018 Tax Tiers below to compute the t

Tomtit [17]

Answer:

$9,904

Explanation:

The question is incomplete as it did not contain the 2018 Tax Tiers. The 2018 Tax Tiers can be found on an article published by Forbes (https://www.forbes.com/sites/robertberger/2017/12/17/the-new-2018-federal-income-tax-brackets-rates/#37caf9e1292a). These tiers has been used to answer this question.

With an annual income of $63,475, total amount of tax owed is computed as follows.

Tax rate on income up to $9,525 is 10% = 10% * $9,525 = $952.50

Tax rate on additional income up to $38,700 is 12% = 12% * ($38,700 - $9,525) = $3,501

Tax rate on additional income up to $82,500 is 22% = 22% * ($63,475 - $38,700) = $5,450.50.

We used $63,475 instead of $82,500 in the 3rd bracket due to the limit of the individual's annual income.

Therefore, total tax owed = $952.50 + $$3,501 + $5,450.50 = $9,904.

4 0

3 years ago

Hebron organizes theatrical performances in his neighborhood every weekend and also holds training classes for those who are int

Basile [38]

Answer: Mental stimulus processing

Explanation:

The mental stimulus processing is one of the type of intangible action which is typically control by the different types of minds of people and the these action are manage on the basis of the given assets and the customer requirement.

According to the given question, Herbon is organizing the theatrical performance in the society and also managing the training class of the theater and arts performance.

The Hebron is basically offering the various types of services on the basis of the category of mental stimulus processing such as consulting. Therefore, Mental stimulus processing is the correct answer.

4 0

3 years ago

In the former Soviet Union, producers were paid for meeting output targets, not for selling products. Under those circumstances,

Firlakuza [10]

Answer:

The economic incentive was to produce enough to meet the output target, without regard for quality or cost.

Explanation:

As the only condition for the payment to the producers is linked with the output thus there is no constraint for the quality and the sales of the product. This indicated that the producer will get the reward irrespective whether the quality or cost of the product is feasible or not.

8 0

3 years ago

Read 2 more answers

The intentional, deliberate misstatement, or omission of material facts or accounting data that is misleading and, when consider

maw [93]

Answer:

Financial statement fraud

Explanation:

Financial statement fraud - it is referred to as the alternations in financial statements that are induced by the company's itself The main reason behind alternation in the financial statements is due to the mislead people dealing with finance and developed the false picture of the company's financial information.

some ways through which financial statement fraud can be done are

- by making false entries

- altering the finance statement by changing the data value

- inducing false information

6 0

3 years ago

Blythe Industries reports the following account balances: inventory of $417,600, equipment of $2,028,300, accounts payable of $2

aleksley [76]

Answer:

$783,400

Explanation:

The total assets comprise of current assets, fixed assets ,and the intangible assets

The current assets include cash, stock, account receivable, etc

Fixed assets include plant & machinery, land, equipment, furniture & fittings, etc.

And, the intangible assets include patents, copyrights, goodwill, etc.

So, the amount of the current assets is shown below:

= Inventory + cash + account receivable

= $417,600 + $51,900 + $313,900

= $783,400

The account payable is a current liabilities, Hence, we do not considered for the computation part

6 0

4 years ago