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
inysia [295]
3 years ago
6

The Costa Rica Tourism Board proposed a 6 percent tax on airplane travel to pay for a public hospital. A New York University eco

nomist estimates that the tax would result in a 6 percent increase in the price of an airline ticket. If the elasticity of demand is 1.33, what is the expected change in quantity demanded
Business
1 answer:
Cloud [144]3 years ago
3 0

Answer: 7.98% or 8%

Explanation:

The price elasticity of demand shows how much quantity demanded changes in response to a change in price.

Formula is:

Price elasticity of demand = Percentage change in quantity demanded / Percentage change in price

1.33 = Percentage change in quantity demanded / 6%

Percentage change in quantity demanded = 1.33 * 6%

= 7.98% or 8%

You might be interested in
During January, Luxury Cruise Lines incurs employee salaries of $1.2 million. Withholdings in January are $91,800 for the employ
Zarrin [17]

Answer: Please see below for answer

Explanation:

Journal for employee salary and withholdings

Particulars                           Debit                  Credit

Salaries Expense               $1, 200,000

FICA tax Payable                                              $91,800

Federal Income Tax Withholding Payable      $180,000

State Income Tax Withholding Payable           $75,000

Health Insurance Payable                                  $12,000

Salaries Payable                                               $841,200

Journal to record employer provided fringe benefits for January

Particulars                                  Debit                                  Credit

Salaries expense(fringe benefits)$ 36,000

Accounts payable to blue cross shield                           $36,000

Journal to record employer payroll taxes

Particulars                           Debit                     Credit

Payroll Tax Expense              $166, 200

FICA tax Payable                                                       $91,800

unemployment tax payable                                        $74,400

6 0
3 years ago
Which of the following statements about material requisitions is false? a. Material requisitions are often computerized. b. Mate
Vladimir79 [104]

Answer:

D. Material requisitions authorize the transfer of materials from the production floor to the raw materials warehouse

Explanation:

Material requisitions doesnt authorize anything, just provides information

6 0
3 years ago
Use the graph to answer the question that follows. Graph has quantity along the horizontal axis and price along the vertical axi
Jlenok [28]

The statement that would describe the shift from D1 to D2 is Demand for the product increased.

<h3>Why was there a shift from D1 to D2?</h3>

D2 is a curve that is to the right of D1 which means that it represents a higher level of demand for goods and services.

This means that for the demand to move from D1 to D2, there must have been an increase in the demand for the good or service and this could have been for any number of reasons including a reduction in the price of complimentary goods.

Find out more on determinants of demand at brainly.com/question/1245771

#SPJ1

8 0
1 year ago
Which of the following methodologies might be most appropriate if you have a system project with: unclear requirements; very fam
Anna71 [15]

Answer:

The last option is wrong, the correct option to that question is: Extreme Programming.

And the correct answer is that option.

Explanation:

To begin with, the name of <em>"Extreme Programming"</em> refers to a specific methodology of development of software that mainly focuses in the improvement of software quality and the responsiveness to changing customers requirements. Moreover, this methodology best fits in the cases where the system project comes with unclear requirements and where there is a short time schedule due to the fact that as a type of agile software development it advocates frequent releases in short time cycles that are primarily focus on introducing checkpoints in where the requirements of the consumers who are unclear can be adopted.

5 0
3 years ago
Seller Janet delivers a disclosure statement to Buyer Amanda. Amanda reads it over and decides everything looks good enough to c
Olin [163]

Answer:

Seller Janet delivers a disclosure statement to Buyer Amanda. Amanda reads it over and decides everything looks good enough to continue with the purchase. A few weeks later, a major hail storm damages the roof and now it leaks. The original disclosure is no longer accurate and the statement which is false:

  • Amanda can require Janet to replace the roof.  

Explanation:

  • Amanda can not require Janet to replace the roof as it was not mentioned in the disclosure statement. The things she can ask the Janet to do are:
  1. Janet should amend the disclosure statement and deliver it to Amanda.
  2. Janet can correct the damage to the roof and tell Amanda nothing.
  3. Amanda can rescind the purchase agreement within three business days after she receives an amended disclosure.

6 0
3 years ago
Other questions:
  • In the broadest sense, economics studies the choices that
    9·1 answer
  • _____ are examples of selling raw materials.
    6·2 answers
  • Little's law states that the average number of people in a waiting line is the average customer arrival rate multiplied by the:
    11·1 answer
  • Identify and explain the theory of motivation applied by the manager at Kellog's company. Identify each level and support your a
    7·1 answer
  • Juggernaut Satellite Corporation earned $18.5 million for the fiscal year ending yesterday. The firm also paid out 40 percent of
    6·1 answer
  • What is the expansionary fiscal policy of the government?
    9·1 answer
  • During 2021, its first year of operations, a company provides services on account of $257,000. By the end of 2021, cash collecti
    8·1 answer
  • Quiz - Motivational Theory
    8·1 answer
  • The following materials standards have been established for a particular product: Standard quantity per unit of output 4.2 pound
    15·1 answer
  • Granting a foreign company the right to manufacture your product or to use your firm's trademark in return for a fee is called:_
    14·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!