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3 years ago

Sellers of a good bear the larger share of the tax burden when a tax is placed on a product for which the

Business

1 answer:

Leviafan [203]3 years ago

6 0

Answer:

b. demand in more elastic than the supply.

Explanation:

Elasticity is defines as the measure of responsiveness of quantity demanded and supplied to changes in price.

In a situation where demand is more elastic than supply and tax is imposed, the suppliers can bear more cost due to tax without the quantity changing by much.

On the other hand when taxes are applied if sellers want to move it to buyers that have elastic demand, it will result in a big fall in the quantity demanded.

So the seller's bear the cost in this scenario because demand is elastic and will fall with small price increase.

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Ayayai Corp. lends Martinez industries $48000 on August 1, 2022, accepting a 9-month, 6% interest note. If Ayayai Corp. accrued

amm1812

This is currently the right answer . Lolll

3 0

3 years ago

What is the name of the economic system where the government, or another central administration, regulates supply and prices?

MrMuchimi

It is called centrally-planned economy or command economy

5 0

4 years ago

Use the high-low method to determine the hospital's cost equation using nursing hours as the cost driver. Predict total overhe

netineya [11]

Answer: Total cost (23500 hours predicted ) = $ 484625

Explanation:

The question is incomplete the high and low methods requires us to use high and low level of activity together with the corresponding total costs at each level to determine the variable cost per unit. we will provide assumed total costs and nursing hours in order to show how high and low method is used to predict total costs for the next period.

Assume the following were total costs and corresponding nursing hours for the previous 3 months

Total cost Hours

$560000 30000 hours

$400000 220000 hours

$225000 10000 hours

calculating Variable cost using high and low method

Variable cost per unit = (high cost - low cost)/high hour - low hours)

Variable Cost Per unit = (840000 - 225000)/ (30000 - 10000) = 16.75

Variable cost per unit = $ 16.75

Fixed costs = 560000 - (28000 x 16.75) = 560000 - 469000

Fixed costs = $91000

Total cost (23500 hours predicted ) =Total Fixed cost + Total Variable costs

Total cost (23500 hours predicted ) = $91000 + (23500 x $16.75)

Total cost (23500 hours predicted ) == $91000 + $393625

Total cost (23500 hours predicted ) = $ 484625

6 0

3 years ago

A job candidate is being taken out to dinner by a an interviewer. The interviewer gets to pick therestaurant they will dine (eit

Fofino [41]

Answer and Explanation:

a. They will visit the local restaurant and the job candidate will choose to have salad as an order. Please check the attachment I added for the other parts of the answer.

b. The interviewer would make a choice and choose local restaurant. Based on this choice, the job candidate will choose salad. If the interviewer should choose chain restaurant, the job candidate will choose steak

C. Strategy

The interviewer:

S = {chain,local}

Job candidate:

S = {(steak, salad} multiplied by {steak, salad}

= {(Steak steak), (steak salad), (salad, steak), (salad,salad)}

5 0

3 years ago

The following information is available for Blossom Company:

Aleonysh [2.5K]

Answer:

Total Assets = $124,510

Total Liabilities = $38,320

Total Stockholders' equity = $86,190

Explanation:

Blossom Company

Balance sheet

As at December 31, 2022

Assets

Current assets

Cash $6,390

Accounts receivable 2,100

Supplies 3,800

Inventory 2,920

Total current asset $15,210

Non-current asset

Equipment (net) 109,300

Total assets 124,510

Liabilities and Stockholders' Equity

Current liabilities

Accounts payable $4,500

Interest payable 670

Unearned service revenue 820

Salaries and wages payable 830

Total current liabilities $6,820

Long-term liabilities

Notes payable 31,500

Total liabilities $38,320

Stockholders' equity

Common stock 58,900

Retained earnings (Balancing amount) 27,290

Total stockholders' equity $86190

Total liabilities and stockholders' equity $124,510

8 0

3 years ago