<span>Among the choices the excise taxes includes: fast-food restaurants, cigarettes, alcohol, gasoline. Extract taxes once in a while basically called an extract or an extract obligation, is an expense forced on specific merchandise and enterprises. Both elected and state governments can pick what products and ventures are liable to extract charge. As an aberrant duty, the extract sum is incorporated into the aggregate price tag of the item or administration.</span>
Answer: The expected duration for gathering system requirements using three-point method is 8 days.
We obtain the same answer when we use the Simple Average method and the PERT method.
We follow these steps while arriving at the answer.
We have the following information from the question:
Optimistic Value (O) - 4 days (best estimate of time taken to complete the task)
Most Likely Value (M) – 8 days (realistic estimate of time taken to complete the task)
Pessimistic Value (P) – 12 days (worst estimate of time taken to complete the task)
There are two formulas we can use to determine the expected duration by using the three-point estimation method.
- <u>Simple Average method:</u> We use the following formula under this method.
2. <u>PERT method</u>. The formula for this is:
Answer:
The assumptions that a perfectly competitive market is based on do not exist in the real world. But this market form exhibits efficiencies which others don't. That's why it is used in studying market structure.
Explanation:
Perfect competition is assumed to have the characteristics that are not found in the real world. For instance,
1. A large number of buyers and sellers
2. No barriers to entry and exit
3. Homogenous products
4. Buyers have perfect knowledge
5. Firms are price takers
All these do not really exist in the real world. Firms produce differentiated products. There are a number of restrictions like high costs, licensing, etc. Buyers do not have perfect knowledge.
But perfect competition exhibits both allocative as well as productive efficiency, while other market forms are mostly inefficient. That's why in studying market structure we start from perfect competition because it is the ideal case.
Answer: What is law of demand with example? The law of demand dictates that when prices go up, demand goes down – and when prices go down, demand goes up. For instance, a baker sells bread rolls for $1 each. They sell 50 each day at that price.
Explanation: