Answer:
Total profit = $1800000 @ a given demand level of 100K units of swimsuit.
Explanation:
Lets first develop a formula representing the Total profit for any demand level, see as follows:
(Selling price per unit× d) - (cost per unit× d)= Total profit
We will be using the short forms of the components in this formula.
SP = selling price per unit
d= demand
cp= cost per unit
TP= Total profit.
Now lets substitute the values into the formula to compute profit at any demand level (in this case 100,000 units of swimsuits) as follows:
Total profit = ($40× 100000) - ($22× 100000)
Total profit = $4000,000 - $2200,000
Total profit = $1800000 @ a given demand level of 100K units of swimsuit.
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<em>(NOTE: The formula mentioned above can be used to compute the correct profit for any demand level, even though if there is a change in sp and/or cp, the formula can also be useful.)</em>
Answer:
ASSURANCE should go in the blank.
Answer:
B) induces buyers to consume less, and sellers to produce less.
Explanation:
Taxes are a necessary evil since they always increase the price of the goods and services that consumers buy and decrease the amount of money that producers receive from selling their goods and services. But taxes are necessary and unavoidable.
But once a market assumes all the effects of existing taxes it reaches an equilibrium price that both consumers and producers are satisfied with. If a new tax is levied than the deadweight losses are greater since consumer surplus and producer surplus are both reduced. This will lead to a reduction in the incentive that both consumers and producers have to engage in transactions. Many times consumers will substitute heavily taxed goods for other goods since they feel they are getting more from consuming those goods (consumer surplus). The same happens to producers, many producers will change their heavily taxed goods for other goods.
If the price elasticity of demand or supply of a certain good is large (elastic demand and supply), the deadweight loss will be greater.
Answer: C. Debit cash $71,000; debit land $132,000; credit Common Stock $203,000.
Explanation:
From the question, we are informed that Richard Redden, the sole stockholder, contributed $71,000 in cash and land worth $132,000 in exchange for common stock to open a new business, RR Consulting.
The journal entries will RR Consulting make to record this transaction will be:
Debit cash $71,000; debit land $132,000; credit Common Stock $203,000.
The definition for interest in terms of finance is interest is the cost of borrowing. Therefore the correct option is (B).
<h3>What is Finance?</h3>
Finance refers to the money or the funds required by the company to undertake the business projects. Here, finance is the separate field of the study taught to the management students.
Interest refers to the amount charged to the borrower to the lender on the loan facility provided to them. Every lender charges the rate of the interest according to his will.
Bank also charge the rate of the interest on the loan provided to the customer. Therefore the correct option is (B).
Learn more about Finance here:
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