Answer:
Social Security Tax = $ 244.28
Medicare tax = $ 57.13
Explanation:
Social Security Tax: $3,940 x 6.20% = $244.28
Medicare tax: $3,940 x 1.45% = $ 57.13
<span>Revenues–Expenses–Current Debt = Net Profit or Net Loss
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I think it’s a loss of $1,000. To be honest I don’t believe the Math adds up to be any of the answers.
Answer:
The dealer will sell 15 Volvos
Explanation:
Consider the following formulas to calculate the Q of which optimize the exercise.
Profit = Q*p
Profit = (30-q)*q
Profit = 30q - q^2
Differentiating with respect to q, we get
30-2q = 0
2q = 30
q=15
The dealer will sell 15 Volvos
Answer:
E. Division of the burden of a tax between the buyer and the seller
Explanation:
Tax incidence is an economic term for the division of a tax burden between buyers and sellers. Tax incidence is related to the price elasticity of supply and demand. When supply is more elastic than demand, the tax burden falls on the buyers. If demand is more elastic than supply, producers will bear the cost of the tax.
