1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
liubo4ka [24]
3 years ago
8

What is the effect of a​ $1 specific tax collected from producers on equilibrium price and quantity if demand is perfectly elast

ic​?
Price:

a. increases by $1
b. unchanged

Quantity:

a. decreases
b. unchanged
Business
1 answer:
Sever21 [200]3 years ago
5 0

Remember that a perfectly elastic demand is a demand where any price increase would cause the quantity demanded to fall to zero, and reducing the price of a good or service will not increase sales.

Also, equilibrium price is the market price where the quantity of goods supplied is equal to the quantity of goods demanded. This is the point at which the demand and supply curves in the market intersect.

Finally, equilibrium quantity is when supply equals demand for a product.

Therefore, the answer to this question is:

Price  is unchanged  and quantity  is unchanged

Answer:

Price:

b. unchanged

Quantity:

b. unchanged

You might be interested in
Which of the following combinations should be avoided? a. high price and high quality b. low price and low quality c. heavy prom
NNADVOKAT [17]

Answer: heavy promotion and low (exclusive) availability

Explanation:

The wrong combination is high promotion and low availability, because when a product is highly promoted it would lead to high interest in that product from the consumers, this would lead to a high demand for that product from customers. And this high demand needs to be met with high supply, which is not the case here, therefore scarcity would set in.

4 0
3 years ago
Ryan Company deposits all cash receipts on the day they are received and makes all cash payments by check. Ryan's June bank stat
Sergio039 [100]

Answer: $19037

Explanation:

The following can be deduced from the question:

Balance per Bank statement = $18361

Add: Deposits in Transit = $1450

Add: Bank error = $63

Less: Outstanding check = $837

Adjusted cash Balance per Bank:

= ($18361 + $1450 + $63) - $837

= $19874 - $837

= $19037

The adjusted cash balance per the bank records should be $19037.

N.B: The bank error was gotten as the difference between $92 and $29. $92 - $29 = $63

5 0
3 years ago
Traditionally, if sam, who is 17 years old, purchases a television from a store, signs a 11-month contract, and then drops it on
zavuch27 [327]
Well of this is true of false it would be false because you have to be 18 years old. This can’t happen in the first place because you have to be 18 years or older to purchase the television
5 0
3 years ago
Activity based costing _____________
Ilia_Sergeevich [38]

Answer:

1. groups costs into meaningful buckets that are then distributed based on the activity or product they support.

Explanation:

Activity based costing basically categorizes various overheads into different activities, that leads to charge of overheads based on different activities.

In this manner overheads that shall be charged on some standard products based on the activities involved is charged accordingly, and not based on standard overhead allocation rate.

Basically the overheads are divided into various activities and then distributed  to each product based on the volume of activity in the manufacturing process of such activity.

7 0
3 years ago
Why is one dollar now worth more than one dollar in the future?
Galina-37 [17]
Because then there will be a limited amount of supplies and resources on Earth, so the value will be rare and expensive.
4 0
3 years ago
Other questions:
  • Why does the pricing strategy need to reflect the marketing strategy?
    13·1 answer
  • Governments of all types have historically included two basic components: a means of coercion, and a means of
    13·1 answer
  • In the dividend process, the liability dividend payable is recognized on the date of
    7·2 answers
  • If Expenses are greater than income, you have a surplus
    15·1 answer
  • What would happen if three more restaurants opened in a small town where only four restaurants were open for business originally
    11·1 answer
  • taxpayer filed his income tax return after the due date but neglected to file an extension form. The return indicated a tax liab
    10·1 answer
  • Vicki likes to visit a social network site called Fanfiction and read the stories that others post on this site. She doesn't rea
    5·1 answer
  • Excise and Sales Tax Calculations
    8·1 answer
  • Which of the following does not describe a trial balance? a. Proves that all transactions have been recorded b. Proves the mathe
    15·1 answer
  • The following transactions occurred during December 31, 2021, for the Microchip Company. On October 1, 2021, Microchip lent $115
    12·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!