Answer:
TRUE
Explanation:
When supply is perfectly inelastic, the supply curve is vertical as shown in the attached plot. Thus, the tax that shifts the supply curve upward would have no effect on the equilibrium quantity or price paid by consumers. Since equilibrium quantity or price paid by consumer don't change there's no burden on them. However, no team's owners would receive a lower after tax price and thus bearing the entire tax burden.
For the statement "The payoff matrix represents hypothetical profits that could be earned by two milk..." and the Milky Mose table Both will cheat Option C. This is further explained below.
<h3>What is a
payoff matrix?</h3>
Generally, payoff matrix is simply defined as when one player's tactics and those of the other are represented in a table called a payoff matrix, they are listed in rows.
In conclusion, In order to get an edge, both parties will engage in dishonesty. As a result, both parties will be tempted to cheat in order to gain an unfair advantage.
The payoff matrix below represents hypothetical profits that could be earned by two milk sellers who have formed a cartel. Each seller must decide if they want to cheat or not to cheat on the production quotas in the cartel agreement. Use the payoff matrix to answer the questions below. Does either member have an incentive to cheat? Heifer's Gold will cheat, but Milky Moo will not. No, neither has an incentive to cheat, Yes, both will cheat. Milky Moo's will cheat, but Heifer's Gold will not
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Answer:
b) $665,000.
Explanation:
Primer income: $625,000
SealCoat income: $50,000
Primer interest in SealCoat is 80% therefore primer is a parent company to SealCoat and is entitled to $40,000 (80%*$50,000) on SealCoat income.
Therefore, consolidated net income for 2013 is: $665,000 (625,000+40000)
Answer:
Carter Co. has greater financial risk as compared to Sunny Co. and to the average financial risk in the industry.
Explanation:
Since the industry average is 3.20
Provided Debt to Equity is
Sunny Co. 4.00
Carter Co. 6.00
Since debt to equity represents the financial risk associated with the product.
It is clear that both the companies are on a higher financial risk than that of the industry.
Further the company is still in a better position than that of the competitor, as the later has higher debt to equity ratio.
Therefore, the first statement concluding that the financial risk of Carter Co. is highest of all including the competitor and the industry average is True.
Answer: a. The marginal tax rate increased from 2009 to 2010.
Explanation:
The marginal tax rate refers to the taxes that people have to pay on any additional dollar that they make.
In the year 2009 this rate was 15% but in 2010 this rate went up to 20% across the board including for the person earning $35,000. This shows a clear increase in the marginal tax rate between both years.
