Accounting professors earn more than English professors at most universities. Explain this with a supply and demand graph.
1 answer:
I will assume here (since I don't have more information) that each school needs one English and one Accounting professor, but that more people are ready to teach English than accounting (this assumption might be wrong, but it's what think)
therefore the supply is bigger for the English professors than for the Accounting professors -this means that the accounting professors can ask for bigger salary (the bigger the supply, the smaller the prize)
therefore the supply is bigger for the English professors than for the Accounting professors -this means that the accounting professors can ask for bigger salary (the bigger the supply, the smaller the prize)
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Answer:
The correct options are as follows
Buyers will pay all of the tax.
The price of Humbugs will rise to $60.
The quantity of Humbugs demanded will not change.
Explanation:
As the question is not complete, the complete question is found online and is attached herewith.
The options given are as follows
Sellers will pay all of the tax.
Buyers will pay all of the tax.
The price of Humbugs will rise to $60.
The price of Humbugs will rise by less than $10.
The quantity of Humbugs demanded will not change.
Now option 1 is not correct as the buyer has to pay the tax not the seller.
option 2 is correct
option 3 is correct
option 4 is not correct as the initial price is $50 and the new price is to be more than $60 thus the rise is more than $10.
option 5 is correct as the demand of the hamburger will remain the same.
