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g100num [7]
3 years ago
10

Suppose the current price of gasoline at the pump is $4 per gallon and that 1 million gallons are sold per day. A politician pro

poses to add a $1 tax to the price of a gallon of gasoline. She says the tax will generate $1 million in tax revenues per day ( 1 million gallons×$1 per gallon=$1 million ). In this situation, the politician is assuming that the demand for gasoline is:
Business
1 answer:
Rasek [7]3 years ago
8 0

Answer: Perfectly inelastic demand

Explanation:

Perfectly inelastic demand is a type of demand where the quantity demanded for a good or service does not respond to price.

The implication in a perfectly inelastic demand is that the price does not matter as the consumer would purchase the same quantity of a good or service at every price. A nearly perfect example of perfect inelastic demand demand is a life saving drug.

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A performance rating error in which the rater tends to give employees either extremely high or extremely low ratings is referred
victus00 [196]
D. leniency is based on when somebody rates an employee too high. Strictness error is when somebody was rated very very low.
3 0
2 years ago
Depreciation is computed from the first of the month of acquisition to the first of the month of disposition. Land A and Buildin
frozen [14]

Answer:

He will not pay any depreciation during October.

Explanation:

Depreciation is charged only on building equipment and machinery. It is not accounted for land as land is an asset whose value does not depreciate over the years.

Depreciation for Building A would be zero  for the month of october as depreciation is computed from the first of the month of acquisition to the first of the month of disposition.

The depreciation expense will be computed on 1st of November.

7 0
3 years ago
Bryan works as a salesman for jumbocorp. last year his sales target was $3 million and this year in an aggressive bid for growth
Leto [7]
<span>There are a couple of reasons why Bryan acted in an unethical manner. First, he may have low morals which could be traced to his upbringing or life challenges. He could also have acted this way due to the demands made upon him by his employer to increase sales so dramatically. The stress of keeping his job may have been greater than acting ethically.</span>
3 0
3 years ago
If the economy experiences a recession with a current spending gap $1,000 below full-employment output, and the marginal propens
gtnhenbr [62]

Answer:

Change in Investment  (Government Spending) = $200

Explanation:

Multiplier = k =∆Y/∆I = 1/(1-MPC)

Needed ∆Y = $1000  ;  MPC = 0.8

1000/ ∆I = 1 / (1-0.8)

1000/∆I  = 1 / 0.2

1000/∆I  = 5

∆I  = 1000/5

∆I = 200

5 0
3 years ago
During 2017, Bolton Corporation acquired a mineral mine for $1,500,000 of which $200,000 was determined to be the salvage value
MAVERICK [17]

Answer:

$162,500

Explanation:

Depletion is used to expense the cost of extracting natural resources.

Depletion expense = (unit extracted in 2017 / total units that could be extracted) x (Cost- salvage value)

(1,500,000 / 12,000,000) x ( $1,500,000 - $200,000) = 0.125 × 1,300,000 = $162,500

I hope my answer helps you

8 0
3 years ago
Read 2 more answers
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