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
Anna71 [15]
3 years ago
7

Suppose that the U.S. government decides to charge wine consumers a tax. Before the tax, 50,000 bottles of wine were sold every

week at a price of $5 per bottle. After the tax, 44,000 bottles of wine are sold every week; consumers pay $6 per bottle (including the tax), and producers receive $2 per bottle. The amount of the tax on a bottle of wine is $ per bottle. Of this amount, the burden that falls on consumers is $ per bottle, and the burden that falls on producers is $ per bottle. True or False: The effect of the tax on the quantity sold would have been larger if
Business
1 answer:
grigory [225]3 years ago
6 0

Answer:

$4

$1 and $3

False

Explanation:

As per the data given in the question,

a)

Amount of tax for each bottle is $4 because the sellers are receiving $2 and buyers are paying $6. Therefore,

Amount of the tax on a bottle of wine is $6 - $2 = $4

b)

Burden on the consumer = $6 - $5

= $1

Burden on the seller = $4 - $1

= $3

c)

False, because the tax incidence depends on the flexibility or elasticity  of market.

You might be interested in
The per-unit cost of an item is its average total cost (= total cost/quantity). suppose that a new cell phone application costs
emmasim [6.3K]

Answer:

Cost per unit= $2,500.70

Explanation:

Cost per unit of an item is the fixed cost of producing the item plus the variable cost.

That is:

Total cost = fixed cost + variable cost

In this instance the fixed cost (cost of the application) is given as $250,000

The variable cost (cost of delivery) is $0.7

For 100 units variable cost will be $0.7* 100= $70

Total cost= 250,000+ 70

Total cost= 250,070

Cost per unit = Total cost/ Number of units

Cost per unit= 250,070/100

Cost per unit= $2,500.70

8 0
3 years ago
Jacob wants to invite 20 friends to his birthday, which will cost his parents $250. If he decides to invite 15 friends instead,
ehidna [41]
The answer would be 187.50

250 $ for 20 friends would be $12.50 per friend. So, 12.5 x 15 = $187.50
4 0
2 years ago
Suppose the world price of cotton falls substantially. The demand for labor among cotton-producing firms in Texas will . The dem
exis [7]

Answer:

decrease

increase

Frictional

) establishing government employment agencies to connect unemployed workers to job vacancies 

Explanation:

The options needed to answer the last question are :

a) extending the number of weeks for which unemployed workers are eligible for unemployment insurance benefits from the government 

b) establishing government employment agencies to connect unemployed workers to job vacancies 

c) offering recipients of unemployment insurance benefits a cash bonus if they find a new job within a specified number of weeks

The law of supply states that the higher the price, the higher the quantity supplied and the lower the price, the lower the quantity supplied.

It follows that if the world price of cotton falls, the quantity supplied would fall too as firms would reduce their production of cotton. If firms reduce their production of cotton, they would need less labour and the demand for Labour would fall.

In the industry that makes use of cotton has an input, the fall in world price would make cotton cheaper. The firm would increase the quantity demanded for and as a result production would increase. Firms would need more labour as a result of the increase in production. Therefore, the demand for Labour would increase.

Frictional unemployment is unemployment that results as a result of labour moving from one job to another

Establishing government employment agencies to connect unemployed workers to job vacancies would ease the job search of labour and reduce unemployment.

I hope my answer helps you

4 0
3 years ago
EXPLAIN HOW IMPORTANT MOTIVATION IN AN ORGANIZATION ​
Olegator [25]
Level of commitment, drive and energy that a company's workers bring to the role everyday.
8 0
2 years ago
Read 2 more answers
Your friend asks you to help her babysit and will pay you 3 pennies for the first job. you agree to help if she triples your pay
dolphi86 [110]
If it triples each time you will get 19683 pennies
8 0
3 years ago
Other questions:
  • List four valuable items that might be kept in an apartment or house. Next to each item, write the estimated dollar amount that
    7·2 answers
  • On January 1, 2017, Boston Enterprises issues bonds that have a $2,150,000 par value, mature in 20 years, and pay 6% interest se
    12·1 answer
  • Katsumi applied for a credit card with a limit of $1,000. When the application was approved, Katsumi bought a new CD player and
    9·1 answer
  • All sales are on account. 35% of the sales are collected in the month of sale, 45% in the following month, the remainder in the
    10·1 answer
  • Hey wassup I'm lowkey bored y'all wanna do sum?
    6·2 answers
  • Your friend currently works as an accountant at a public accounting firm in the small town of Beaver Falls, Pennsylvania. He is
    6·1 answer
  • Someone speak please im well bored
    6·2 answers
  • Mabel is a single 40-year-old who has borrowed money on numerous occasions. Her payment record has been good, except she has bee
    5·1 answer
  • i made a bet with my friend that he couldnt swallow an egg full, hes laying on the ground now what do i do
    6·1 answer
  • you were recently hired by a firm as a project analyst. the owner of the firm is unfamiliar with financial analysis and wants to
    14·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!