A 4 percent decrease in the price will lead to an increase in the quantity demanded by less than 4 percent.
<h3>What is demand?</h3>
Demand simply means the amount of goods and services that a buyer wants to buy at a particular price and time.
When the demand for product x is inelastic, a 4 percent decrease in the price of x will lead to an increase in the quantity demanded by less than 4 percent.
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The deduction in the year of purchase for E&P purposes due to the acquisition and expensing of the equipment is: <u>$3,000</u>.
<u>Explanation</u>:
E&P refers to accumulated earnings and profits in accounting term. The term was commonly related with the stockholders of corporations. Accumulated earnings and profits are generally calculated by obtaining the net profit of the company after paying dividends to the stockholders.
The economic ability of the corporation can be measured through E&P. In the above scenario, the Boxer Corporation purchases equipment for $15000 with seven-year of class life. This purchase comes under the <u>Sec.179</u>. The deduction in the year of purchase for E&P purposes will be $3000 for Boxer Corporation.
Answer:
The correct answer is B.
Explanation:
Giving the following information:
Hardigree Corporation makes a product that has the following direct labor standards:
Standard direct labor-hours 0.3 hours per unit
Standard direct labor rate $ 23.00 per hour
In May the company's budgeted production was 8,900 units, but the actual production was 8,800 units. The company used 2,820 direct labor-hours to produce this output. The actual direct labor cost was $70,218.
Actual rate= 70,218/2,820= 24.9
Direct labor price variance= (Standard Rate - Actual Rate)*Actual Quantity
Direct labor price variance= (23 - 24.9)*2,820= 5,358 unfavorable
Answer: The labor supply curve for a wealthy individual is usually more elastic than a poor person's labor supply curve
Explanation:
Tax could be described as individuals paying a particular percentage of their income and whatever they use then pay to the government. The aim of the tax being collected is to generate funds internally which could be used in maintaining the economy.
Despite the government attempts to make tax be one-sided, it yields little or no result in favour of the poor as they end up being well tax as same as the rich. Those who are poor make use of services regularly, and most societies have them than those who are already established. The labor supply curve for a wealthy individual is usually more elastic than a poor person's labor supply curve. We would realize that we have more poor people in labour than those who are rich.
