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WINSTONCH [101]
3 years ago
12

Green et al.​ (2005) estimate that the demand elasticity is minus0.47 and the​ long-run supply elasticity is 12.0 for almonds. T

he corresponding elasticities are minus0.68 and 0.73 for cotton and minus0.26 and 0.64 for processing tomatoes. If the government were to apply a specific tax to each of these​ commodities, what incidence would fall on​ consumers? The incidence of a specific almond tax that would fall on consumers is nothing percent. ​(Enter numeric responses using real numbers rounded to one decimal​ place.)
Business
1 answer:
Ronch [10]3 years ago
5 0

Answer:

The numeric response for the question using real numbers rounded to one decimal​ place is given as below.

Explanation:

Tax incidence for almonds is (12 / (12 + 0.47)) = 0.96

for cotton (0.73 / (0.73 + 0.68)) = 0.52 and

for processing tomatoes is (0.64 / (0.64 + 0.26)) = 0.71

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Compton Company expects the following total sales: Month Sales March $ 20,000 April $ 10,000 May $ 34,000 June $ 15,000 The comp
Shalnov [3]

Answer:

The accounts receivable balance on May 31 is $17850

Explanation:

First we need to determine the amount of credit sales for the month of May. The credit sales for May will be 70% of the total sales for May. Thus, the credit sales for May are,

Credit sales- May = 34000 * 0.7   = $23800

The accounts receivable balance at the end of May will contain the amount due from credit sales that are made in May that are still not collected and will be collected in the next month as per the company's policy.

Accounts receivable at the end of May = 23800 * 0.75 = $17850

8 0
3 years ago
Ramort Company reports the following cost data for its single product. The company regularly sells 20,000 units of its product a
kotykmax [81]

Answer:

Contribution margin per unit= $33

Explanation:

Giving the following information:

The company regularly sells 20,000 units of its product for <u>$60 per unit. </u>

<u>Direct materials $ 10 per unit </u>

<u>Direct labor $ 12 per unit</u>

<u>Overhead costs for the year Variable overhead $ 3 per unit </u>

Fixed overhead per year $ 40,000

Selling and administrative costs:

<u>Variable $ 2 per unit </u>

Fixed $ 65,200

Normal production level= 20,000 units

Contribution margin= Selling price - unitary variable costs

Unitary variable cost= direct materials + direct labor + variable manufacturing overhead + variable selling and administrative

Unitary variable cost= 10 + 12 + 3 + 2= $27

Contribution margin per unit= 60 - 27= $33

3 0
3 years ago
The act that requires most employers to withhold certain amounts from employees' earnings for contributions to the Social Securi
raketka [301]

Answer:

Federal Insurance Contributions Act

Explanation:

The Federal Insurance Contributions Act refers to a law that establishes the federal taxes that are deducted from employees' salaries to get the funds for social services like Medicare, disability insurance, among others. According to  this, the answer is that the act that requires most employers to withhold certain amounts from employees' earnings for contributions to the Social Security and Medicare programs is called the Federal Insurance Contributions Act.

5 0
3 years ago
Kokomochi is considering the launch of an advertising campaign for its latest dessert​ product, the Mini Mochi Munch. Kokomochi
Alla [95]

Answer:

Check Explanation.

Explanation:

Note that the amount are in millions(dollar).

Year one: the sales of Mini Mochi Munch = $ 8.8 million = 8.8, sales of other products = $ 1.7 million. Hence, the gross profit = (8.8 × 38%) + (8.8 × 23%) = 5.368.

The selling, general and administrative expenses = 4.9 and the depreciation is zero.

Then, the EBIT = the gross profit -selling, general and administrative expenses - Depreciation.

EBIT = 5.368 - 4.9 - 0 = 0.468.

Less income tax at 38% = 0.17784.

incremental earnings= EBIT - Less income tax at 38%.

incremental earnings = 0.468 - 0.17784.

Year two: the sales of Mini Mochi Munch = $ 6.8 million = 6.8, sales of other products = $ 1.7 million. Hence, the gross profit = (6.8 × 38%) + (6.8 × 23%) = 4.148.

The selling, general and administrative expenses = 0, and the depreciation is zero(0).

Then, the EBIT = the gross profit -selling, general and administrative expenses - Depreciation.

EBIT = 4.148 - 4.9 - 0 = −0.752.

Less income tax at 38% = −0.28576.

incremental earnings= EBIT - Less income tax at 38%.

incremental earnings = −0.752 - −0.28576 = −1.03776.

3 0
3 years ago
If an emergency vehicle on the side of the road has its lights on you must
FinnZ [79.3K]
Stop to see what’s the problem and it you can help in any way
8 0
3 years ago
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