1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Anettt [7]
3 years ago
7

Prior to the 1997 federal tobacco settlement a pack of cigarettes sold for $2.48. The terms of the settlement required a decreas

e in teenage smoking of 60 percent. If the elasticity of cigarette demand for teenagers is about 1.3 then the price of cigarettes should rise to __________ in order to achieve the target reduction of 60 percent.
Business
1 answer:
makkiz [27]3 years ago
3 0

Answer:

$3.62

Explanation:

Elasticity of demand = percentage change in quantity demanded/ percentage change in price

1.3 = 60% / percentage change in price

Percentage change in price = 60/1.3

=46.15%

Price has to rise by 46.15% or 0.4615

0.4615 = (x - 2.48) / 2.48

1.14 = x - 2.48

X = 3.62

Price has to rise to $3.62 to achieve a 60% reduction.

I hope my answer helps you

You might be interested in
what best describes ""accountability"" in journalism? group of answer choices representing and telling stories of company matter
stepan [7]

"Accountability" in journalism: Journalism businesses typically apprehend this principle of duty through admitting mistakes and correcting them promptly, as referred to in SPJ's Code of Ethics. most additionally submit complaints in their news efforts contained in letters to the editor.

The definition of accountability is taking or being assigned duty for something that you have executed or something you're presupposed to do. An example of responsibility is when a worker admits mistakes she made on a challenge.

Accountability, in phrases of ethics and governance, is equated with answerability, blameworthiness, legal responsibility, and the expectancy of account-giving. As in a thing of governance, it's been central to discussions related to problems in the public quarter, nonprofit, and personal and personal contexts. duty is a guarantee that a man or woman or an agency could be evaluated on their performance or behavior associated with something for which they're responsible. The term is associated with obligation but is seen as greater from the attitude of oversight.

Learn more about Accountability here:

brainly.com/question/980342

#SPJ4

4 0
2 years ago
Silvia Company acquires a 30% interest in Small Company. The fair value of Small's inventory exceeds its carrying value by $100,
beks73 [17]

Answer:

The revenue that the investment in the company would increase by $100,000.

Explanation:

Though the International Accounting Standard IAS 2 Inventories says that the inventory must be recorded at lower of:

  • Cost
  • Net Realizable Value (Fair Value less Cost to Sell)

This means though the Net realizable value increases but the cost remains the lower. This means their must not be any changes made to inventory account.

The profit earned from the increase in inventory value will be reflected in the income which will increase the net worth of the investment. So the increase in investment revenue would be by $100,000.

7 0
3 years ago
How would the market for smartphones be affected if the government charged an excise tax of $5.00 on each smartphone sold? quest
11111nata11111 [884]
<span>how would the market for smartphones be affected if the government charged an excise tax of $5.00 on each smartphone sold ? C) The supply of smartphones would decrease. Excise taxes are based on the quantity of an item and not on its value. For example, the federal government imposes an excise tax of 18.4 cents on every gallon of gas purchased, regardless of the price charged by the seller. States often add an additional excise tax on each gallon of fuel. so, government will charged 5.00$ excise tax on smartphone will affected supply of smartphones would decrease.</span>
8 0
3 years ago
Based on a predicted level of production and sales of 15,000 units, a company anticipates reporting operating income of $22,000
Arisa [49]

Answer:

Total variable cost= 90,000

Total fixed costs= 8,000

Total costs= $98,000

Explanation:

Giving the following information:

Production of 15,000 units:

Fixed costs= $8,000

Total variable cost= $75,000

We have no reason to believe that the fixed costs will change. If 18,000 units remain in the relevant range, the fixed costs are constant.

<u>We need to calculate the unitary variable cost:</u>

Unitary variable cost= 75,000/15,000= $5

Now, for 18,000 units:

Total variable cost= 5*18,000= 90,000

Total fixed costs= 8,000

Total costs= $98,000

5 0
3 years ago
Charlie sells cookies only in packages of 10. It costs him $3.50 in materials per package. Additionally, he has overhead costs o
yaroslaw [1]

Let x represent the number of packages Charlie needs to sell to make a monthly income of $5, 000 
Since he sells cookies only in packages of 10 then he has to sell 10x to make that income. But Charlie has expenses that has to be deducted from his total sales to make that figure.  
So the total expenses is $1, 500 in overhead and an extra $3.50 per material per package. So the total expenses = 1500 + 3.50x 
If he has to make $5, 000 at the end of the month we have
 10x - (1500 + 3.50x) = 5000
 10x - 1500 - 3.50x = 5000
 6.50x = 5000 + 1500 = 6500
 Solving we find:
 x = 1, 000 packages


5 0
3 years ago
Other questions:
  • Glassworks Inc. produces two types of glass shelving, rounded edge and squared edge, on the same production line. For the curren
    6·1 answer
  • what was the main cause behind the lowell strike in the mid nineteenth century? (a. wage cuts)( b. working hours) (c. living con
    7·1 answer
  • Write a short paragraph explaining the difference between the fastest growth and largest growth industries from a numerical pers
    11·1 answer
  • ABC Corporation has instituted a mentorship program whereby Rita has been assigned to mentor Sally. During a recent conversation
    13·1 answer
  • During the 1920s, competition increased and businesspeople realized they had to do more than just focus on manufacturing, which
    9·1 answer
  • Select all that apply What is the difference between an adjusted trial balance and an unadjusted trial balance? (Check all that
    10·1 answer
  • Holly took a prospective client to dinner, and after agreeing to a business deal, they went to the theater. Holly paid $290 for
    10·1 answer
  • The management of Bonga Corporation is considering dropping product D74F. Data from the company's accounting system for this pro
    5·1 answer
  • Tyrone Northrup pays monthly rent of $1,240 for a one-bedroom apartment in a large city. He pays an extra monthly charge of $160
    13·1 answer
  • question 3 fill in the blank: data involves creating new ways of modeling and understanding the unknown by using raw data.
    11·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!