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Mars2501 [29]
3 years ago
10

Which of the following statements is correct?

Business
1 answer:
Kay [80]3 years ago
4 0

Answer:

The correct answer is letter "C": The demand for bourbon whiskey is more elastic than the demand for alcoholic beverages in general.

Explanation:

Elasticity is a measure of the response of variables to a shift in a certain variable. It can explain to what degree the supply or demand for a product or service shifts with the price of the goods or the income of customers. <em>Basic staples such as milk or gasoline tend to be low in elasticity</em>. This is because to change the quantity demanded involves a meaningful change in price or customer income. <em>It's said that luxury goods like high-end vehicles and electronics have high elasticity</em>.

Thus, <em>bourbon whiskey is considered as a luxury beverage compared to other alcoholic drinks. Thus bourbon whiskey is more elastic</em>.

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Assuming a company sells 800 units at $16 each, has variable costs of $12 per unit. The after-tax income is $1,200.

<h3>After-tax income</h3>

Using this formula

After-tax income=(Selling units×Selling price)-[(Variable costs×Selling price)+Fixed costs]×(1- tax rate)

Let plug in the formula

After-tax income=(800 units× $16 each)-[(800 units × $12 each)+$1200]×(1-.40)

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Inconclusion the after-tax income is $1,200.

Learn more about after-tax income here:brainly.com/question/1775528

5 0
2 years ago
What are the two advantages and two disadvantages in breakevean analysis​
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Answer:

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Hope this helps! :)

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