Answer:
The correct answer is: An increase in the negative externality caused by cigarette smoking.
Explanation:
If government pays farmers not to plant tobacco this lead to a decrease in tobacco production. This will further cause the supply of a tobacco to decrease. As a result, the supply curve of tobacco will shift leftwards.
A decrease in supply of tobacco will increase its price. As tobacco is used to make cigarettes, the increase in its price will increase the price of producing cigarettes. As a result, the supply of cigarettes will decrease causing a leftward shift in the supply curve of cigarettes.
As the supply decreases, the price of cigarettes will decrease. People will consume less quantity of cigarettes. This will cause a reduction in the negative externality caused by smoking cigarettes.
Answer: $38,097.50
Explanation:
Mandy Feng has to pay Johnson $35,000 for the year as well as various taxes. Adding all of these up is the total cost of hiring Johnson to Mandy Feng.
Calculating therefore we have,
= Salary + Social Security Taxes + Medicare Taxes + SUTA Tax + FUTA Tax
Remember, it is stated that FUTA and SUTA are applicable to only the first $7,000 of Johnson's pay.
= 35,000 + (6.2% * 35,000) + (1.45% * 35,000) + ( 5.4% * 7,000) + ( 0.6% * 7,000)
= 35,000 + 2,170 + 507.50 + 378 + $42
= $38,097.50
The total cost to Feng of employing Johnson for the year is $38,097.50
Answer:
The correct answer is: deficit; surplus.
Explanation:
A budget deficit refers to the situation when the government expenditures are greater than government revenue. While a budget surplus is a situation where the government revenues are greater than government expenditure.
When government expenditures are equal to government revenues, the budget is said to be in balance.
A budget deficit is corrected by increasing taxes and decreasing spending.
A budget surplus can also be referred to as government saving.
Answer:
29,867 units
Explanation:
Variable cost per unit (VC) = $75.00
Sales price (P) = 1.50 * VC = $112.50
Fixed costs (FC) = $1,120,000
Units sold (n) = ?
EBIT is given by:
Therefore, the number of units sold required to break even is:
Round up the value obtained to the next whole unit and the sales volume needed is 29,867 units.
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