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
Dmitrij [34]
3 years ago
14

The demand for football tickets is Q = 360 â 10P and the supply of football tickets is Q= 20P. The government levies a per-ticke

t tax of $4, which is paid by consumers. Calculate the after-tax price paid by consumers. Calculate the gross price received by ticket sellers. What are consumerâs and producerâs tax burdens?
Business
1 answer:
grandymaker [24]3 years ago
8 0

Answer:

After tax price paid by consumers

Supply function n terms of price;

P = Q / 20

P = 0.05Q

Add the tax;

P = 0.05Q + 4

Demand function in terms of price is;

Q = 360 – 10P

P = (Q - 360) / -10

Price will be;

Demand = Supply

(Q - 360) / -10 = 0.05Q + 4

36 - 0.1Q = 0.05Q + 4

0.15Q = 32

Q = 213

After tax price = 36 - 0.1Q

= 36 - 0.1 * (213)

= $14.70

Gross price for ticket sellers is;

= Price - tax

= 14.7 - 4

= $10.70

Consumer and Producer tax burden.

Without tax, price is;

36 - 0.1Q = 0.05Q

0.15Q = 36

Q = 240

P = 36 - 0.1 * 240

= $12

Consumer tax burden = 14.70 - 12 = $2.70

Producer tax burden = Tax - consumer tax burden = 4 - 2.7 = $1.30

You might be interested in
What types of documents can workers create using DTP? advertisements envelopes databases note cards spreadsheets
Alex73 [517]
The answer is spreadsheets.
4 0
3 years ago
Read 2 more answers
What type of crime measurements collects data from those who break the law
Rashid [163]
<span>National Crime Victimization Survey,Have an wonderful day!
</span>National Crime Victimization Survey Resource GuideAbout NCVS

The National Crime Victimization Survey (NCVS) series, previously called the National Crime Survey (NCS), has been collecting data on personal and household victimization since 1973. An ongoing survey of a nationally representative sample of residential addresses, the NCVS is the primary source of information on the characteristics of criminal victimization and on the number and types of crimes not reported to law enforcement authorities. It provides the largest national forum for victims to describe the impact of crime and characteristics of violent offenders. Twice each year, data are obtained from a nationally representative sample of roughly 49,000 households comprising about 100,000 persons on the frequency, characteristics, and consequences of criminal victimization in the United States. The survey is administered by the U.S. Census Bureau (under the U.S. Department of Commerce) on behalf of the Bureau of Justice Statistics (under the U.S. Department of Justice).

The NCVS was designed with four primary objectives: (1) to develop detailed information about the victims and consequences of crime, (2) to estimate the number and types of crimes not reported to the police, (3) to provide uniform measures of selected types of crimes, and (4) to permit comparisons over time and types of areas. The survey categorizes crimes as "personal" or "property." Personal crimes cover rape and sexual attack, robbery, aggravated and simple assault, and purse-snatching/pocket-picking, while property crimes cover burglary, theft, motor vehicle theft, and vandalism. The data from the NCVS survey are particularly useful for calculating crime rates, both aggregated and disaggregated, and for determining changes in crime rates from year to year.

4 0
3 years ago
Which one of the following is not an assumption of the EOQ model? Decisions for one item can be made independently of decisions
irga5000 [103]

Answer:

Quantity discounts can be taken advantage of for large lot sizes.

Explanation:

The EOQ model assumptions:

the order of one item does not intervene with the other.

The order will arrive without delay and with a specific amount of goods.

no losses or damage in transit

The EOQ does not consider the discount for large lot size, their formula does not consider the value of the goods:

Q_{opt} = \sqrt{\frac{2DS}{H}}

Its use: Demand of the good

cost of Setup, or ordering cost.

and Holding cost, the cost of keeping the inventory

There is no variable to account for discounts for order size in this method

7 0
3 years ago
Calvin works in the accounting department for a textbook publishing firm preparing budgets and reporting production costs. What
Anarel [89]

Answer:

The answer is "managerial accountant".

Explanation:

The economic circumstances collect and earned value collection of data, evaluating and presenting financial information for the organization or the management team of the company. These statistics will then be used to make sensible financial decisions that really can benefit the overall growth of the organization.

Managers were employing company and organizational accounts to monitor internal financial processes, revenue, spending, and budget, submit reports, determine past trends and forecast future needs, and aid economic decisions.

5 0
3 years ago
Swifty Company took a physical inventory on December 31 and determined that goods costing $203,600 were on hand. Not included in
Bezzdna [24]

Answer:

Inventory= $251,540

Explanation:

Giving the following information:

Swifty Company took a physical inventory on December 31 and determined that goods costing $203,600 were on hand. Not included in the physical count were $25,420 of goods purchased from Pelzer Corporation, f.o.b. shipping point, and $22,520 of goods sold to Alvarez Company for $32,230, f.o.b. destination.

Both the purchase and the sale must be accounted for in inventory. The purchase is FOB shipping point, therefore it is responsibility os Swifty. The sale was made FOB destination, as it is in transit, it is the responsibility of Swifty.

Inventory=  203,600 + 25,420 + 22,520= $251,540

3 0
3 years ago
Other questions:
  • Describe why social security is considered a retirement account?
    5·1 answer
  • An opera house is offering three performances and has two types of consumers. The performances are "Carmen," "Madama Butterfly,"
    12·1 answer
  • Botox Facial Care had earnings after taxes of $340,000 in 20X1 with 200,000 shares of stock outstanding. The stock price was $74
    14·1 answer
  • What are examples of people creating intellectual property? Check all that apply.
    13·1 answer
  • Utica Company’s net accounts receivable was $250,000 at December 31, 2016, and $300,000 at December 31, 2017. Net cash sales for
    6·2 answers
  • Licensee Keira is acting as a limited service agent to list the property only. Her first meeting with the client takes place at
    14·1 answer
  • A commodity is something with cash value that can be bought or sold.<br> true or false
    7·2 answers
  • When originally purchased, a vehicle costing $25,740 had an estimated useful life of 8 years and an estimated salvage value of $
    7·1 answer
  • Paolo is an owner of a professional sports team in a large league. To promote fairness, the team with the most losses in the lea
    11·1 answer
  • enterprise project management software is also known as a tool of project management software.low-end mid range high-end baselin
    13·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!