Barton's Taco Tico has four taco makers and ten other employees who take orders from customers and perform other tasks. The four
taco makers and the other employees are paid an hourly wage. How would you classify (1) the wages paid to the taco makers and other employees and (2) materials (e.g., cheeses, salsa, tomatoes, lettuce, taco shells, etc.) used to make the tacos?A Fixed Cost Fixed B Fixed Cost Variable
C Variable Cost Fixed
D Variable Cost VariableA) Choice C B) Choice D C) Choice A D) Choice B
Fixed costs are business expenses that do not change when production levels increase or decrease. These are one of two types of business expenses and the other is variable costs. Variable costs change with increases or decreases in production volume. Then:
1) <em>The wages paid to the taco makers and other employees</em> - Variable Costs
2) <em>Materials</em> (e.g., cheeses, salsa, tomatoes, lettuce, taco shells, etc.) <em>used to make the tacos</em> - Variable Costs
A. Thequantity demanded for bread will decrease , quantity supplied will increase
Explanation:
PRICE FLOOR is the minimum mandated price set by government , usually above equilibrium price , to ensure producers' protection (if market price is perceived to be low) . EG : Minimum Support Price for agricultural products to protect farmers .
However at this raised price : There is Excess Supply , as Quantity Supplied increases with price increase (law of supply - price & supply direct relationship) , Quantity Demanded falls (law of demand - price & demand inverse relationship)
A group of such computers - which get interconnected in order to share information or documents are usually called a computer network. This is a common type of networking when working in large companies or businesses.
The correct option is: For each unit of the good that is sold, buyers bear <u>one-half of the tax burden and sellers bear one-half of the tax burden.</u>
<u>Explanation</u>:
Incidence of tax is a term referred in economics which deals with division of taxes. Tax incidence refers to division of tax among the buyer and seller for a product. The tax incidence is related to the price elasticity of supply and demand.
When a product is sold, the buyer of the product is charged with one-half of the tax burden and the seller of the product bears the other-half of the tax burden.
