All else equal, imposing taxes in markets where demand and supply are price inelastic not only causes less inefficiency but also raises more revenue.
What is meant by price inelastic?
Inelastic is an economic term referring to the static quantity of a good or service when its price changes. Inelastic means that when the price goes up, consumers' buying habits stay about the same, and when the price goes down, consumers' buying habits also remain unchanged.
What is inefficiency in business?
Inefficiency is defined as a lack of organization or skill that wastes time, energy, or money. For business owners, it is the practice that sparks a worst-case scenario. Every penny spent on tools and software to make the business run smoother is the cost of running an efficient organization.
What do revenue means?
Revenue is the total amount of income generated by the sale of goods or services related to the company's primary operations. Revenue, also known as gross sales, is often referred to as the "top line" because it sits at the top of the income statement. Income, or net income, is a company's total earnings or profit.
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Answer:
This implies or states to low openness to experience
Explanation:
Low openness to experience, it is related to people who are mostly dedicated to work they do and make sure that their tasks or work through to the end.
So, in this case, Barney, who is the manager is very resistant to adapt the change, very conventional and does not accept the new ideas so easily. This states that the manager, is very low for experiencing the openness or to the new ideas.
Answer:
C. $ 7,500
Explanation:
Estimated direct labor cost $ 100,000
Estimated direct labor hours 20,000 hours
Predetermined rate per direct labor hours $ 5 per direct labor hour
Actual hours used on a job 1,500 hours
Applied overhead based on the predetermined overhead
rate per direct labor hours
$ 5 per direct labor hours * 1,500 hours $ 7,500
The information regarding machine hours is not relevant to the requirements of the question.
Answer:
$113.86 billion
Explanation:
Real GDP = nominal GDP/ price index
Real GDP = $14460 billion / 127 = $113.86 billion
I hope my answer helps you
I’m going to with “fall until the demand rises. Because google says “If the supply increases, the prices decreases.” Meaning until the demand is higher then the supply the prices will get decrease.
