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Slav-nsk [51]
3 years ago
10

If the government removes a tax on a good then the quantity of the good sold will

Business
1 answer:
miv72 [106K]3 years ago
3 0
Decrease due to more buyers
You might be interested in
Olive Corporation has two divisions, Pressing and Extracting. The company's primary product is Lavender Oil. Each division's cos
Alex777 [14]

Answer:

$15,000

Explanation:

Operating income is the difference between the net sales or revenue generated by a business and the operating expenses of the business.

The operating expenses of the business may be classified into 2 groups namely the fixed and variable costs.

The total operating cost of the business

= ( $9 + $6 + $28 + $32) per barrel

= $75

operating income of both divisions

= 200 ( $150 - $75)

= 200 * $75

= $15,000

5 0
3 years ago
The difference between actual and standard cost caused by the difference between the actual quantity and the standard quantity i
victus00 [196]

Answer:

Quantity variance.

Explanation:

The difference between actual and standard cost caused by the difference between the actual quantity and the standard quantity is called the Quantity variance.

For instance, if Tony needs a standard quantity of 50 pounds of iron to construct a burglary, but only used 51 pounds, then the quantity variance is 1 pound of iron.

<em>Hence, the quantity variance is simply the difference between the actual quantity of materials that should be used and the quantity of materials that was used. </em>

5 0
3 years ago
Imagine a linear demand curve graphed with Quantity on the x-axis and Price on the y-axis. We know the middle of the curve is th
Murrr4er [49]

Answer:

A. That's the point where total revenue is maximized

Explanation:

Demand Curve is a downward sloping curve representing inverse  relationship between price & quantity demanded.

Elasticity of Demand is the responsiveness of quantity demanded to price change. It can be measured geometrically on a demand curve point by :

Demand curve segment below the point / Demand curve segment above the point.

This way the elasticity keeps on decreasing as we move downwards on the demand curve [Ed=∞ to Ed >1 to Ed = 1 to Ed < 1 to Ed = 0] i.e [from perfectly elastic to elastic to unitary elastic to inelastic to perfectly inelastic demand].

If Demand is Elastic [Ed >1] : There is negative relationship between price and Total Revenue. This point is on the upper segment of demand curve as per geometric method, P- TR negative relationship implies that TR can be increased by decreasing Price.

If Demand is Inelastic [Ed <1] : There is positive relationship between price &total revenue. This point is on the lower segment of demand curve as per geometric method, P-TR positive relationship implies that TR can be increased by increasing price.

So: The best Total Revenue Maximising point is on the middle of demand curve where demand is unitary elastic [Ed=1] - as any other deviation from this point would create an incentive to change price to generate higher revenue.

3 0
3 years ago
Tom Jordan is a manager for a McDonald's restaurant. Many of his key responsibilities include analyzing data and making key deci
Ksivusya [100]

Answer: Sensitive analysis

Explanation:

Sensitivity analysis this is a financial standard that is used to regulate how target variables can be affected based on changes in other variables which known as input variables. This is also known as what-if or simulation analysis. It is a way used in predicting an outcome of a decision under a known range of variables.

4 0
3 years ago
You purchase one IBM July 120 call contract for a premium of $5. You hold the option until the expiration date when IBM stock se
QveST [7]

Answer:

$200 loss

Explanation:

Long call profit = Max [0, ($123 - $120)(100)] - $500 = -$200.

8 0
3 years ago
Read 2 more answers
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