1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
kirill115 [55]
3 years ago
11

Suppose that the demand for picture frames is highly inelastic, and the supply of picture frames is highly elastic. A tax of $1

per frame levied on picture frames will decrease the effective price received by sellers of picture frames by
Business
1 answer:
Vladimir [108]3 years ago
5 0

Answer:

The decrease in the effective price received by sellers is between $0.51 and $1.

Explanation:

Given the demand for picture = Inelastic

The supply of picture frames = highly elastic

Levied tax on picutre frames = $1

It is given that the demand for the frames is highly inelastic therefore the response of the buyer will be less. That means the proportionate change in demand will be lower than the proportionate change in the price of a commodity. Thus, the answer will be between $0.50 and $1.

You might be interested in
Dinosaur Junior Corporation purchased a one-year insurance policy in January 2013 for $60,000. The insurance policy goes into ef
kozerog [31]

Answer:

Net income and the assets will be overstated by the amount of $40,000

Explanation:

On purchasing the insurance, the accounts which got affected are the Net income as as the net income will decrease because the cash is paid against the insurance. And the assets will be affected on buying the insurance.

If the company neglects to make proper adjustment for the insurance, it will lead to overstated balance of the assets account as well as the net income of the company with the balance of $40,000 because it came in effect on April 30.

Working:

Amount = $60,000 / 12

= $5,000

For 4 months,it will be:

= $5,000 × 4

= $20,000

5 0
3 years ago
Decide which account is best for each person. Becky wants an account that will let her spend her money as much and as often as s
Kobotan [32]

Becky wants an account that will let her spend her money as much and as often as she needs. <u>Checking Account</u>

A checking account allows a person to make as many withdrawals as may be necessary. They may or may not earn some interest on the balance.

Sanjay wants an account that will earn interest but still let him make withdrawals. <u>Interest (Dividend) Checking Accounts.</u>

Interest (Dividend) Checking Accounts offer combined features of a checking account and a savings account. The interest rate on the balance is higher than a regular checking accounts, but an individual can withdraw money without any penalties. This account requires that an individual maintain a higher minimum balance.

Neveah has some money she wants to save until she goes to college in two years. She wants an account that will earn a little more interest. <u>Savings Accounts.</u>

Savings Accounts are interest bearing accounts and designed to encourage savings. Hence, withdrawals from such accounts may not be possible until a certain pre-agreed withdrawal date. Withdrawals before the pre-agreed date attract a large amount of penalty. Such accounts are usually used to build wealth.

8 0
4 years ago
Read 2 more answers
The federal reserve system is overseen by the _____. department of commerce senate board of governors president
Anni [7]
<span>Option correct is C. Governors. The Federal Reserve System is a reserve system governed by an autonomous and private entity that controls the organizational structure that is overseen by a government agency, called the Board of Governors, located in Washington D.</span>
6 0
3 years ago
Read 2 more answers
The overlap that occurs when the same people see an ad twice is referred as
telo118 [61]
B. That is duplicated reach
4 0
3 years ago
What is artificial selection
rusak2 [61]

Artificial selection is the intentional reproduction of individuals in a population that have desirable traits. In organisms that reproduce sexually, two adults that possess a desired trait — such as two parent plants that are tall — are bred together.

7 0
3 years ago
Read 2 more answers
Other questions:
  • 1. The 1924 name change from The Computing, Tabulating, and Recording Company to the International Business Machines was done in
    9·1 answer
  • Amy is a package delivery service manager. she is interested in implementing ________, the management philosophy pioneered by fr
    11·1 answer
  • A hurracane has hit the oil refineries in lousiana and taxes what happens in the market
    11·1 answer
  • Sanders Inc. is a small brick manufacturer that uses the direct write-off method to account for uncollectible accounts. At the e
    11·1 answer
  • Fancy Farms purchased equipment on January 1 at a cash cost of $30,000. The estimated life is 10 years and the estimated residua
    14·1 answer
  • Rhett made his annual gambling trip to Uwin Casino. On this trip Rhett won $250 at the slots and $1.200 at poker. Also this year
    5·1 answer
  • Whitewall Tire Co. just paid an annual dividend of $1.70 on its common shares.
    13·1 answer
  • Assume that you plan to buy a share of XYZ stock today and to hold it for 2 years. Your expectations are that you will not recei
    8·1 answer
  • How many peolpe come in a job in the moring
    7·1 answer
  • Who is European's best skilled <br> attendants
    8·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!