How much money does the founder of Google make a year?

When the elasticity of demand for a product is __________ the elasticity of supply, consumers pay __________ of the tax on the p

mezya [45]

When the elasticity of demand for a product is smaller than the elasticity of supply, consumers pay majority of the tax on the product.

The way the tax burden is distributed between purchasers and sellers is known as the tax incidence.

The relative price elasticity of supply and demand determines the tax incidence.

Usually, both the producers and the consumers of the taxed goods bear the incidence, or burden, of the tax.

But all we have to do is look at the elasticity of demand and supply to determine which group will be carrying the bulk of the load.

The majority of the tax burden falls on consumers when supply is more elastic than demand.

The majority of the tax burden falls on the producers when demand is more elastic than supply.

The less elastic the demand and supply are, the higher the tax revenue.

Hence, When the elasticity of demand for a product is smaller than the elasticity of supply, consumers pay majority of the tax on the product.

Learn more about elasticity of demand:

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6 0

1 year ago

Maggie’s Skunk Removal Corp.’s 2018 income statement listed net sales of $14.1 million, gross profit of $9.00 million, EBIT of $

Lera25 [3.4K]

Answer:

The answer is shown below:

Explanation:

The computations are shown below:

1. Gross Profit margin in percentage is

= Gross profit ÷ Net sales × 100

= $9 million ÷ $14.1 million

= 63.83%

2. Net Profit margin percentage

= Net income available to common stockholders ÷ Net sales × 100

= $4.8 million ÷ $14.1 million

= 34.04%

3. Operating Profit margin percentage is

= EBIT ÷ Net sales × 100

= $7.2 million ÷ $14.1 million

= 51.06%

Basic Earning Power in percentage

= EBIT ÷ Total Assets

= $7.2 million ÷ $54.1 million

= 13.31%

Return on assets is

= Net Income ÷ Average Assets

= $4.8 million ÷ $54.1 million

= 8.87%

Return on Equity is

= Net income ÷ common stockholders' equity

= $4.8 million ÷ $22.6 million

= 21.24%

And,

Dividend Payout ratio is

= common stock dividends ÷ net income available to common stockholders

= $2.8 million ÷ $4.8 million

= 58.33%

6 0

3 years ago

2. Mr. Bryan will purchase gifts for his 6 sons,

aleksklad [387]

Answer:

810 for the sons' gifts.

Explanation:

You would ignore the information about the daughter, it's only placed there to confuse you. All you have to do is multiply 6 by 135.

3 0

3 years ago

Which of the following is not a product cost?

Sedbober [7]

Explanation:

d indirect materials used in production hope it's right

6 0

2 years ago

The following standards for variable manufacturing overhead have been established for a company that makes only one product: Sta

Aleks [24]

Answer:

Variable overhead efficiency variance= $19,952 unfavorable

Explanation:

Giving the following information:

Standard hours per unit of output 5.2 hours

Standard variable overhead rate $11.60 per hour

Actual hours 2,500 hours

Actual output of 150 units

<u>To calculate the variable overhead efficiency variance, we need to use the following formula:</u>

Variable overhead efficiency variance= (Standard Quantity - Actual Quantity)*Standard rate

Standard quantity= 5.2*150= 780

Variable overhead efficiency variance= (780 - 2,500)*11.6

Variable overhead efficiency variance= $19,952 unfavorable

8 0

2 years ago