Answer:
U.S. Tax Burden on Cola:
The amount of the tax on a case of cola is $4 per case. Of this amount, the burden that falls on consumers is $1 per case, and the burden that falls on producers is ___$3______ per case.
The effect of the tax on the quantity sold would have been larger if the tax had been levied on consumers.
a. True
b. False
Explanation:
The tax burden on consumers, which is represented by the difference in the price of cola from $5 to $6 per unit is $1 ($6 - $5). However, the cash received by producers reduced by $3 from $5 to $2. This shows that the total tax burden on both consumers and producers is $4 ($1 + $3).
This represents a total tax burden of $4 or about 67% based on the new selling price of cola or 80% based on the old selling price of cola.
"The effect of the tax on the quantity sold would have been larger if the tax had been levied on consumers alone. This because the price of cola would have increased to $9 per unit. Since the demand for cola in this instance is elastic, this change in price would have caused a more than 80% change in the quantity demanded.
In the district courts there are... pleadings, motions, scheduling conference and order, discovery, pretrial conference and order, trial, and appeal. A plaintiff commences a civil case by filing a complaint with the court
Answer:
$34,000
Explanation:
Accounting profit = Total revenue - Explicit costs
i.e Total revenue = $50,000
Explicit costs = $12,000 + $1,000 + $3,000 = $16,000
Therefore; $50,000 - $16,000 = $34,000.
Explanation:
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