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3 years ago

The supply of product x is elastic if the price of x rises by

1 answer:

8 0

The answer to this question is 5% and the quantity supplied rises by 7%.
A product is considered as elastic if the change in prices will also affect the changes in total supply.
Usually, this type of products are not considered unique or rare and there are a lot of substitute for this product in the market

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In each of the following situations, indicate whether the 50% reduction for meals applies.

Mashcka [7]

Answer:

Each year, the employer awards its top salesperson an all-expense-paid trip to Jamaica.

This should be considered as part of the employees' compensation (and the employee should be taxed), therefore, the company can deduct 100% of it.

The employer has a cafeteria for its employees where meals are furnished at cost.

Cafeteria meals are not included in the 50% deduction.

The employer sponsors an annual Labor Day picnic for its employees.

This is considered a recreational activity paid by the employer, so the 50% deduction does not apply.

Every Christmas, the employer gives each employee a fruitcake.

It is a fringe benefit, although I doubt that the employees are taxed for receiving a fruit cake. There is no 50% deduction. (referred to as de minimis fringe benefit)

The taxpayer gives business gifts to her clients at Christmas.

Business gives are not subject to a 50% deduction, instead they are subject to a $25 limit.

5 0

3 years ago

According to keynesianism, as more items are being made, what happens to prices?

kupik [55]

According to keynesianism, as more items are being made, what happens to prices D. the prices stay the same

Explanation:

Keynes advocated that an increased government expenditures and lower taxes can stimulate demand and it can pull the global economy out of the depression.

Keynesians believe that, because prices are somewhat rigid, fluctuations in any component of spending like consumption, investment, or government expenditure will cause the output to change. If government spending increases, for example, and all other spending components remain constant, then output will increase.

According to keynesianism, as more items are being made, what happens to prices D. the prices stay the same

5 0

3 years ago

Read 2 more answers

Chaia makes slate table tops for a living. She is guaranteed a base pay of $300 per week, and also earns $75 per completed table

astra-53 [7]

Answer:

10 tabletops

Explanation:

Given that her basic weekly income is $300

Hence for her to meet are target of $1000 she has to work for the extra $700 since $300 is guaranteed

If one completed table top earn her $75

Hence she must complete 10 table tops to earn $750

Total earning = 750+300= $1050

3 0

3 years ago

When they produce 20,000 units per month, Sanders Incorporated has variable costs of $392,000 and fixed costs of $242,000. If Sa

Lady_Fox [76]

Answer:

increased in budget = $98000

correct option is A $98000

Explanation:

given data

produce = 20,000 units per month

variable costs = $392,000

fixed costs = $242,000

increases production = 25,000 units

to find out

how much will they have to increase their budget

solution

we get here total cost or present budget that is

total cost = variable cost + fixed cost

total cost = $392000 + $242000

total cost = $634000

and

variable cost per unit will be here

variable cost per unit = $\frac{variable\ costs}{produce}$

variable cost per unit = $\frac{392000}{20000}$

variable cost per unit = 19.6

and

variable cost for increased production = increases production × variable cost per unit

variable cost for increased production = 25000 × 19.6

variable cost for increased production = 490000

and

total cost of increased production = fixed cost + variable cost for increased production

total cost of increased production = $242000 + $490000

total cost of increased production = $732000

and

increased in budget = $732000 - $634000

increased in budget = $98000

correct option is A $98000

6 0

3 years ago

What are the Holland codes?

kirill [66]

Realistic investigate artistic social enterprising and conventional. these are the holland codes that were made by john holland to help collage level students.

4 0

3 years ago

Read 2 more answers