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True [87]
3 years ago
10

Nick bought a music player. The price was $172, and the sales tax rate was 7 percent. How much sales tax did Nick pay when he bo

ught the music player?. A. $7.20. B. $12.04. C. $12.45
Business
2 answers:
Dmitry_Shevchenko [17]3 years ago
4 0

The answer i think would be $12.04.

andre [41]3 years ago
3 0
The sales tax that Nick should pay can be calculated by multiplying the base price, $172, by the sales tax rate in its decimal equivalent. The operation,
                           ($172) x (0.07) = $12.04
<span>Therefore, Nick paid $12.04 sales tax for the music player. </span>
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The answer is Credit.

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Net loss can be thought of as a <u>Credit </u>to the Capital account.

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Danny "Dimes" Donahue is a neighborhood’s 9-year-old entrepreneur. His most recent venture is selling homemade brownies that he
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Answer:

To calculate the elasticity of demand, we need to use mid point elasticity theory.

According to mid point theory,

Ed = [(Q2 - Q1) / {(Q1 + Q2) / 2}] / [(P2 - P1) / {(P1 + P2) / 2}]

Where, Ed = Elasticity o demand

Q1 = Initial quantity = 100

Q2 = New Quantity = 300

P1 = Initial price = $2.75

P2 = New price = $2.25

Ed = [(300 - 100) / {(100 + 300) / 2}] / [(2.25 - 2.75) / {(2.75 + 2.25) / 2}]

Ed = - 5.

a. So, the elasticity of demand is - 5 or in absolute term 5.

b. As the value of elasticity is more than 1, that means, the elasticty over the price range in elastic.

c. From theory, we knew that, when the demand is elastic, then a decrease in price causes a increase in total revenue. Because, as the demand elasticity is elastic, so the increase in output is higher than decrease in price.

Total revenue will increase

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3 years ago
What type of economy is an economic system in which private businesses can operate freely with minimal state control
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In 2019, Jonathan pays real estate taxes of $18,000 and New York State income taxes of $17,000. Assuming he itemizes, what deduc
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Jonathan can deduct both the real estate taxes and the state income taxes but the Tax Cuts and Jobs Act cut the deduction one can claim on State and Local taxes to $10,000 from 2018 to 2025.

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You have decided to open a pet store and have engaged in a contract with Dog N' Cat Centers, Inc. You and the company have drawn
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Answer:

franchisor; franchisee

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Franchising is the system for the expanding business and distributing the goods and the services to meet the higher demand.

Franchisor is the big name and big company or business which offers small business for franchising in order to gain profits and expanding business.

Franchisee is small business owner who has purchased right to use existing business's trademarks and then uphold same standards as first business.

Hence, in the given case, Dog N' Cat is the <u>franchisor</u> and you are the <u>franchisee</u>.

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