Answer:
$19,687 million
Explanation:
Income tax expense = Income before income tax expense*Effective tax rate
Income before income tax expense = Income tax expense / Effective tax rate
Income before income tax expense = $2,953 million / 15%
Income before income tax expense = $2,953 million / 0.15
Income before income tax expense = $19,687 million
So, the amount that Micro report as income before income tax expense that year is $19,687 million.
Answer:
1. The elasticity of demand for movie tickets must be INELASTIC.
2. Demand curves become LESS elastic in the long run. This means that the ticket price increase will likely be MORE profitable in the long run.
Explanation:
1. As demand is inelastic, the percentage of price increase will be greater than the decrease in the quantity of tickets demanded, and consequently profit will increase.
2. In the long term, demand becomes inelastic. Consequently, in the long term the percentage of the price increase will continue to be greater than the percentage of decrease in the quantity of tickets demanded.
Answer:
Standard price= $6.1
Explanation:
Giving the following information:
The quantity of direct materials used 3,800 lbs. Actual unit price of direct materials $6 per lb. Units of finished product manufactured 1,820 units Standard direct materials per unit of finished product 2 lbs.
Direct materials quantity variance—unfavorable $976 Direct materials price variance—favorable $380.
Direct material price variance= (standard price - actual price)*actual quantity
380= (SP - 6)3,800
6.1= standard price
Direct material quantity variance= (standard quantity - actual quantity)*standard price
976= (1820*2 - 3,800)*SP
6.1= standard price
If the Fed wishes to ensure that inflation does not get out of hand, the Fed could lower the <em>target money supply growth rate</em>.
Inflation is when the general price levels in an economy increases persistently overtime. The policy tools that the Fed can use to control general price levels in the economy is known as monetary policy.
There are two types of monetary policy :
- Expansionary monetary policy : these are steps taken by the Fed to increase the supply of money in the economy. These steps include reducing the <em>target Funds rate, decreasing the reserve requirements and carrying out open market purchase</em>.
- Contractionary monetary policy : these are steps taken to reduce the money supply in the economy. These steps include reducing the <em>target money supply growth rate and carrying out an open market sales. </em>
To learn more about monetary policy, please check: brainly.com/question/15566475?referrer=searchResults
