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Nadya [2.5K]
3 years ago
10

Explain the effect of a tariff on consumer surplus and producer surplus.

Business
1 answer:
rosijanka [135]3 years ago
7 0
The increase in the domestic price of both imported goods and the domestic substitutes reduces the amount of consumer surplus in the market. Tariff effects on the importing country's producers. ... The increase in the price of their product on the domestic market increases producer surplus in the industry.
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The u.s. department of commerce developed a(n) ________ framework in order to enable u.s. businesses to legally use personal dat
AlexFokin [52]
<span>The correct option is,"Safe harbor".
The U.S. Department of Commerce developed a safe harbor framework in order to enable U.S. businesses to legally use personal data from EU countries.
</span>Safe Harbor refers to an agreement that is between the United States Department of Commerce and the European Union that directed in such a way that U.S. organizations could export and handle the individual information and personal data of European nationals.
3 0
2 years ago
Which of the following is a nonmanufacturing business where process costing would most likely be used? An auto body shop. A furn
solmaris [256]

All of them are the non-manufacturing business where process costing would most likely be used.

Explanation:

  • All are non-manufacturing business which are as follows,
  • An auto body shop.
  • A furniture repair shop.
  • A laboratory that tests water samples for lead A tailoring shop.
  • A beauty shop.
  • Non-manufacturing business costs refers to those business where it is incurred outside the factory or production unit
  • Non-manufacturing costs includes,
  • selling expenses
  • general expenses
  • Selling Expenses
  • It is also called as selling and distribution expenses.
  • Non-manufacturing expenses have no impact on the production cost of the company due to their period costs.
7 0
3 years ago
Which of the following describe strategies that China used to achieve the status of a high-performing Asian economy? Check all t
xenn [34]

Answer:

Export of labor-intensive products

Heavy investment in building a world-class infrastructure to attract foreign investment

Explanation:

The population of China is the highest in the world, hence they concluded that they needed to use their number to their own advantage by adopting a labor-intensive production technique which enables them to export their products as well as ensuring a higher percentage of the populace is gainfully employed, little wonders how China products are available the world over.

Also, they provided  world class infrastructures which serve as incentives for foreign direct investment, for instance Apple moved its main factory to China due to the cheaper and available workforce coupled with the state of the art technological infrastructural development achieved by the Chinese people.

3 0
3 years ago
Read 2 more answers
Edgewater Enterprises manufactures two products. Information follows: Product A Product B Sales price $ 13.50 $ 16.75 Variable c
olasank [31]

Answer:

The break-even point is $25,900 units

Explanation:

In this question we use the formula of break-even point in unit sales which is shown below:

= (Fixed expenses) ÷ (Contribution margin per unit)

where,  

Contribution margin per unit for product A = (Selling price per unit - Variable cost per unit) ×product mix

= ($13.50 - $6.15) × 40%

= $2.94

Contribution margin per unit for product B = (Selling price per unit - Variable cost per unit) ×product mix

= ($16.75 - $6.85) × 60%

= $5.94

So, the total contribution margin would be equal to

= $2.94 + $5.94

= $8.88

And, the fixed cost is $230,000

Now put these values to the above formula

So, the value would be equal to

= $230,000 ÷ $8.88

= $25,900 units

8 0
3 years ago
David and Lilly Fernandez have determined their tax liability on their joint tax return to be $1,700. They have made prepayments
Snowcat [4.5K]

Answer:

-$1,800

Explanation:

Given that

Tax liability = $1,700

Prepayment made = $1,500

Child tax credit = $2,000

The computation of tax refund is given below:-

= Tax liability - (Prepayment made + Child tax credit)

= $1,700 - ($1,500 + $2,000)

= $1700 - $3500

= -$1,800

Therefore, from the above calculation simply we subtract tax liability from prepayment and child tax credit.

3 0
3 years ago
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