When a tax of $1.00 per gallon is imposed on sellers of gasoline, the supply curve for gasoline shifts upward, but by less than $1.00. A tax on sellers usually causes buyers to pay more for the good and sellers to receive less for the good than they did before the tax was levied.
0.35 metric tons (mt) of crude oil will cost $112 if 0.90 mt cost $288.
Crude oil and other hydrocarbons can be found in liquid or gaseous form in tar or oil sands, small cavities within sedimentary rocks, and underground pools or reservoirs.
<h3>
What are crude oil and its uses?</h3>
Natural petroleum products like crude oil are made up of deposits of hydrocarbons and other organic elements. Crude oil, a sort of fossil fuel, is refined to create useful products like gasoline, diesel, and numerous other petrochemicals.
Given,
Crude oil = 0.9 (mt) cost is $288.
Required to Find Cost of Crude 0.35 (mt) =?
Find Cost of Crude (0.35 mt) = $288 multiply by 0.35 and divide by 0.9.
Find Cost of Crude (0.35 mt) = $288 x 0.35/0.9
Cost of Crude (0.35 mt) = $112
Thus, Crude oil will cost $112 for 0.35 metric tons (mt).
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Answer:
A. an increase in the price level (inflation)
Explanation:
When there is an unanticipated increase in aggregate demand it usually result in the general increase in the price level of that good demanded (inflation). This is because when there is an unpredicted increase in demand for a good, the demand becomes higher than the supply for that good at that particular period. Because the supply is now less than the aggregate demand, the prices of the commodity is then increased to discourage demand. The increase in the price of the commodity (inflation) therefore is a direct result from the increase in the aggregate demand for that commodity.
Answer:
Expected withdrawal is $45,000 for 30 years = total of $1,350,000
You will be required to invest in $25.063 every year.
Explanation:
By applying the goal seek formula in excel to determine the annual invested fund, based on a compounded interest rate of 6% over a duration of up to a maximum of 25 years from Year 0, we can clearly see that Savings ought to be $25,063 for every year.
The future Value of each saved fund is derived and added to future value of each years subsequent saved fund to arrive at a total expectation of $1,350,000 expected value after 25 years (i.e. $45,000 annual withdrawal x 30 years of withdrawal)
This brings total savings to $626,572 for the entire 25 years
Kindly refer to the attachment for breakdown of workings.
