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4 years ago

When a tax is imposed on a good for which the supply is relatively elastic and the demand is relatively inelastic,

Business

1 answer:

kondaur [170]4 years ago

4 0

Answer:

a. buyers of the good will bear most of the burden of the tax.

Explanation:

When a tax is imposed on a good for which the supply is relatively elastic and the demand is relatively inelastic, buyers or consumers of the good will bear most of the burden of the tax.

However, when tax is imposed on a good whose supply is relatively inelastic and the demand for the goods is relatively elastic, the producers or sellers would be responsible for the tax burden of the goods.

Generally, tax revenues are larger with respect to the inelasticity of demand and supply.

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Clark purchased a life insurance policy on himself and made his son, Russ, the beneficiary. Unfortunately, while Clark was takin

Karolina [17]

Answer: 7. intended donee beneficiary

Explanation:

Intended donee beneficiaries are people who are gifted the benefit of a contract they are not involved in by one of the contracting parties. The person who was involved in the contract that gave the gift does not owe the person that the gift was promised to any debts which makes it like a donation. Russ is an intended donee beneficiary who was meant to receive a benefit from a contract between Clark and the Insurance company even though he was not party to it.

5 0

3 years ago

A woman earns 15% more than her husband. Together they make $58,695 per year. What is the husband's annual salary?

yarga [219]

Answer:

$27,300

Explanation:

Let husband's salary be x

Wife's salary is 15% more than husband's salary. This implies that wife's salary is 15% of x plus x.

Wife's salary = 0.15x + x

= 1.15x

Sum of their salaries = $58,695

Substituting the values in the equation:

58,695 = 1.15x + x

2.15x = 58,695

x = $27,300

Husband's annual salary is computed as $27,300

3 0

4 years ago

Transactions that affect earnings do not necessarily affect cash. Identify the effect, if any, that each of the following transa

Jlenok [28]

Answer:

Item cash Net income

a Purchase of Supplies of cash -$100 -

b Adjusting entry for use of supplies - -$30

c Made sales on account - $1,250

Made sales on account - $1,297

d Received cash from customer on acct $850 -

Received cash from customer on acct $865 -

e Purchased equipment for cash -$2,600 -

Purchased equipment for cash -$2,528 -

f Depreciation of building to be recorded - -$650

Depreciation of building to be recorded - -$610

3 0

4 years ago

At September 24, 2016, how much in total did customers owe Bullock? How much did Bullock expect to collect and not to collect

Artemon [7]

Answer:

The question is incomplete as there were figures on which the net receivables could be computed,as a result find below complete questions and answers:

At September 24, 2016, how much in total did customers owe Bullock? How much did Bullock expect to collect and not to collect on September 24, 2016? What was the net realizable value of Bullock's receivables on September 24, 2016?

Bullock

Balance Sheet (Excerpt, Adapted)

(In Millions of $)

Sep. 24, 2016 Sep. 26, 2015

Current assets:

Cash and cash equivalents $14,801 $19,148

Short-term marketable securities $41,936 $25,598

Accounts receivable, less allowance of $69 and $97, respectively $15,941 $17,758

Inventories $2,129 $2,235

Vendor non-trade receivables $13,132 $13,906

Other current assets $8,243 $15,166

Total current assets $102,287 $107,427

Customers owed Bullock $$15941+$69=$1610

Bullock expected not to collect $69

Bullock expected to collect—net realizable value $15941

Explanation:

Bullock has already made bad debt provisions for both years as $69 and $97 respectively.In other words, these figures are the best estimates for irrecoverable debts.

6 0

3 years ago

Matt's factory rents equipment and hires students to produce sports bags. Compare the outputs at which Matt's AVC and ATC curves

stiks02 [169]

The output at which the average variable cost is a minimum is smaller than the output at which the average total cost is a minimum because initially when decreasing marginal returns set in, (E) average fixed cost is decreasing at a faster rate than average variable cost is increasing.

<h3>What is the average variable cost?</h3>

In economics, the variable cost per unit is known as the average variable cost.
Divide the entire variable cost by the output to get the average variable cost.
In the short term, the enterprises use the average variable cost to determine whether to stop production.

<h3>What is the average fixed cost?</h3>

The average fixed cost (AFC) is a fixed cost that remains constant regardless of the number of goods and services produced by a corporation.
To summarize, the average fixed cost (AFC) is the fixed cost per unit derived by dividing the total fixed cost by the output level.

Therefore, the output at which the average variable cost is a minimum is smaller than the output at which the average total cost is a minimum because initially when decreasing marginal returns set in, (E) average fixed cost is decreasing at a faster rate than average variable cost is increasing.

Know more about average variable cost here:

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Complete question:

Matt's factory rents equipment for manufacturing sports bags and hires students.

The table gives Matt's average total cost schedule and average variable cost schedule.

The output at which the average variable cost is a minimum is smaller than the output at which the average total cost is a minimum because initially when decreasing marginal returns set in, ______.

A.the total fixed cost initially increases and then decreases

B. total fixed cost is decreasing at a faster rate than total variable cost is increasing

C. average variable cost is decreasing at a faster rate than average fixed cost is increasing

D. total variable cost is decreasing at a faster rate than total fixed cost is increasing

E. average fixed cost is decreasing at a faster rate than average variable cost is increasing

7 0

2 years ago