This began to change when president Truman started a campaign called the trust buster
Truman passed endless laws like the meat inspection act and he made monopolies illegal.
Beatniks were also influential in Truman's time for writing novels exposing this reality.
Year 1900 to be approximate
<span>I would say A)minimum dollar amount that can be in an account wouldn't want an account with just a dollar in it, it would be a waste of time and space.</span>
Answer:
Option (A) is the correct answer to this question.
Explanation:
The cessation of the Sporty line would forfeit the profits produced by the Sporty line business, but the business (Beautiful Watches) will have to bear the $38,000 fixed expenses involved by Spotify Watches.
However, if production continued, the Sporty watches would have suffered a loss of $32,000. The company will bear fixed costs regardless of whether the company continues or discontinues the Sporty line market.
Accordingly, the gross operating profits should have been
= Total operating expenses - ( $ 38000 - $ 32000)
= $ 55000 - ( $ 38000 - $ 32000)
= $ 55000 - $ 6000
= $ 49000
There is also a fall of $6000 ($55000-$49000) in operating profits.
Other options are incorrect because they are not related to the given scenario.
Answer:
Explanation:
TaxSeptember Earnings Subject to Tax. Tax Rate. Tax Amount. FICA-Social Security.
$800.006.2%49.60FICA-Medicare $800.00 1.45% 11.60
FUTA $600.00 0.6% 3.60
SUTA $600.002.9%17.40
b)Tax September Earnings Subject to Tax. Tax Rate. Tax Amount FICA-Social Security $2,100.00 6.2% 13 0.20 FICA-Medicare $2,100.00 1.45% 30.45
FUTA
SUTA
c)Tax September Earnings Subject to Tax. Tax Rate Tax Amount FICA-Social Security $6,300.00. 6.2% 39 0.60 FICA-Medicare $8,000.00 1.45% 116.00
FUTA
SUTA
Answer:
Relatively price elastic
Explanation:
<u>Price elasticity is defined as the percentage change in quantality demanded with respect to percentage change in price. Lets explore it in detail.</u>
- Goods whose quantity demanded remains stable irrespective of the change in price (in percentage terms), have perfectly price inelastic demand.
- Goods whose quantity demanded changes less (in percentage terms) then the change in their price (in percentage terms), have relatively price inelastic demand.
- Goods whose quantity demanded disappears with even a negligible change in price (in percentage terms), have perfectly price elastic demand.
- Goods whose quantity demanded changes more (in percentage terms) then the change in their price (in percentage terms), are relatively price elastic.
Perfectly inelastic goods are the ones which have no substitute for example oxygen. If firms start selling us oxygen, we will have no other option except to buy it. Perfectly elastic goods have lots of substitute. So if the price of a product increases with minimal amount, the consumer will shift to its substitutes.
Items that are considered <u>necessity</u> like bread are <u>relatively price inelastic.</u> <u>Luxury goods</u>, on the other hand, have <u>relatively price elastic demand</u>. Let’s see an example.
Bread is a necessity as it is a staple food. If the price of bread increases from $1 to $2 (100% increase), the consumption will not drop significantly. Instead a person having three meals a day, might come to two meals (33% decrease). Hence demand for bread is relatively price inelastic.
<u>As mentioned in the question, demand for luxury goods whose purchase would exhaust a big portion of one's income is </u><u>relatively price elastic. </u><u>Since it takes a large share of wallet, a slight increase in price will discourage the consumer to spend on it at all (it's not a need so why bother spending).</u>