If the supply curve shifts to the left, the equilibrium price will increase, and the quantity will decrease. The magnitude of the shift depends on the elasticity of the demand and supply curves.
Market equilibrium is the point where the supply curve and the demand curve intersect. At this point, the price is stable, and there is no excess supply or demand. This price is determined by the forces of demand and supply.
Suppose at the market equilibrium, demand is relatively more price inelastic as compared to supply. In this case, a change in price would result in a relatively smaller change in the quantity demanded. In other words, the demand curve would be steeper (less elastic) than the supply curve.
The supply curve would be flatter (more elastic) than the demand curve. The reason why the demand curve is relatively more price inelastic is that it has fewer substitutes. Therefore, consumers are less responsive to changes in price. On the other hand, the supply curve is more elastic because suppliers have more substitutes. Therefore, they are more responsive to changes in price.
Suppose there is a shift in demand. If the demand curve shifts to the right, the equilibrium price and quantity will increase. If the demand curve shifts to the left, the equilibrium price and quantity will decrease. The magnitude of the shift depends on the elasticity of the demand and supply curves.
Suppose there is a shift in supply. If the supply curve shifts to the right, the equilibrium price will decrease, and the quantity will increase.
Learn more about Economics here:-
https://brainly.com/question/17996535
#SPJ11
which of the following does not characterize insurance? which of the following does not characterize insurance? transfers risks from individuals to a group guarantees wealth above the loss redistributes losses provides economic security utilizes law of large numbers
Answer:
The option that does not characterize insurance guarantees wealth above the loss. Insurance is a risk transfer mechanism in which an entity (an individual or an organization) transfers its risks to an insurance company.
Explanation:
What is insurance?
Insurance is a contractual agreement between two parties, an insurer, and an insured. In exchange for the payment of premiums, the insurer agrees to cover the losses incurred by the insured within the policy's limits. It is a mechanism for transferring risk from an individual or group to an insurance company. Insurance does not guarantee wealth above the loss, as this option suggests. The insurance company only compensates the insured for the losses incurred within the policy's limits and not more than that. This is why the insured is advised to choose an insurance policy with a higher coverage limit to ensure that they are fully covered if a loss occurs. Other options that characterize insurance include; Redistributes losses. Provides economic security.Transfers risks from individuals to a group.Utilizes the law of large numbers.
Learn more about insurance here:
https://brainly.com/app/ask?q=+insurance
#SPJ11
The EcoWorld Foundation has recently started a large-scale project on handling climate changes. Team members of the project are currently working on finding numerous possible solutions to tackle the issue. They are debating solutions such as shifting to renewable energy, limiting the use of coal, and promoting the improvement of electric automobiles. The members of the project are most likely in the __________ stage of the life of the team.
The EcoWorld Foundation team members are most likely in the Forming stage of the life of the team. In this stage, team members are likely discussing possible solutions to tackle the issue of climate change, such as shifting to renewable energy, limiting the use of coal etc.
What is the Forming stage of the team's life?
The team formation process has four stages: forming, storming, norming, and performing. Forming is the first stage, in which the team members get to know one another, establish some goals, and begin to work out who is in charge of what. Team members are generally cautious during this stage because they don't know each other very well.
Team members often explore the boundaries of good behavior at this point, frequently testing the patience and boundaries of the group's leader. This is a difficult stage for the team, as it can be difficult to establish an identity and purpose when everyone is still getting to know one another. Many teams never leave this stage, devolving into infighting and ultimately dissolving because they are unable to establish their identity and purpose.
learn more about Forming stage of the team's life here:
https://brainly.com/question/29024062
#SPJ11
31. The contribution income statement differs from the traditional income statement in which of the following ways?A. The traditional income statement reports higher income.B. The traditional income statement subtracts all variable costs from sales to obtain the contribution margin.C. Cost-volume-profit relationships can be analyzed from the contribution income statement.D. The effect of changes in sales volume on income is readily apparent on the traditional income statement.E. The contribution income statement separates costs into product and period categories.
The contribution income statement differs from the traditional income statement in this way:
Cost-volume-profit relationships can be analyzed from the contribution income statement. The correct option is C.
What is the contribution income statement?The contribution income statement is a specialized type of income statement that calculates and presents the contribution margin. The contribution margin is the difference between revenue and variable expenses in this context.Variable expenses are the costs incurred directly as a result of making and selling a product or service, such as raw materials or labor.
As a result, the contribution margin is a more accurate indicator of the amount of income produced by the company's primary activities than the net income generated by the traditional income statement.In conclusion, the contribution income statement separates costs into product and period categories.
This is one of the ways in which it differs from the traditional income statement. The contribution margin is calculated in the contribution income statement. It is the difference between revenue and variable costs.
Learn more about income statement at
https://brainly.com/question/28936505
#SPJ11
You subscribe to Sirius XM Radio and pay $12 at the end of each month (which equates to $144 per year). You plan to keep this service for the next five years. Assume you have plenty of cash in your emergency reserve fund, which is in a bank account earning 4% interest per annum. XM Radio offers you a deal whereby you can prepay two years worth of service for $230, payable today.Given these assumptions and relative to the interest you will earn by keeping the money in interest bearing bank account,You are better off to continue to pay monthly given the current rate of interest paid by your bank.You are better off to prepay XM for the next two years.You can not answer the question with the facts provided.You should never prepay for monthly services regardless of the assumptions given above.
In the following question, among the conditions given on Sirius XM Radio, The statement that is true is: You are better off to prepay XM for the next two years.
What is Sirius XM Radio? Sirius XM Radio Holdings Inc. is an American broadcasting company that offers three satellite radio and online radio services operating in the United States: Sirius Satellite Radio, XM Satellite Radio, and Sirius XM Radio.
It provides audio content from a range of genres, such as commercial-free music, news, entertainment, sports, and talk channels. Sirius XM Radio is a satellite radio service, so it offers higher audio quality, more channel choices, and the ability to listen almost anywhere. The question asks us whether or not prepaying for XM Radio for two years is worth it, relative to the interest earned in an interest-bearing bank account, given the assumption that the subscriber will keep the service for the next five years.
Annual payment of Sirius XM Radio$12 * 12 months = $144In the next five years, the total amount spent on Sirius XM Radio is$144 * 5 = $720 If the subscriber pre-pays for two years at $230, they would save$144 * 24 - $230 = $2.716. Furthermore, the subscriber can earn an extra 4% on this amount by keeping it in their bank account for the next two years.
After two years, the subscriber has to make annual payments of $144. Therefore, the total amount spent over the next five years is:$2,716 * (1.04)2 + $144 * 3 = $3,623.29The net amount earned after five years is:$720 - $3,623.29 = -$2,903.29
Since the final balance is negative, we can conclude that the subscriber is better off prepaying XM for the next two years. Therefore, the statement that is true is: You are better off prepaying XM for the next two years.
For more such questions on Sirius XM Radio
https://brainly.com/question/3728675
#SPJ11
New companies often experience rapid sales growth and increases in working capital. Working capital increases are caused by increases in sales-related asset accounts, such as ______ and _______ accounts.
New companies often experience rapid sales growth and increases in working capital. Working capital increases are caused by increases in sales-related asset accounts, such as Accounts Receivable and Inventory accounts.
What is working capital?Working capital (WC) is the amount of money available to a company to manage its short-term obligations, including accounts payable, wages, inventory, and accounts receivable. The terms "Working Capital" and "Working Capital Management" are sometimes used interchangeably. The purpose of working capital management is to ensure that a firm has sufficient cash on hand to pay its short-term debts and expenses.
An inventory account is an account that keeps track of a company's raw materials, work-in-progress products, and finished goods. Inventory accounts include data on the cost of goods sold (COGS), which is the amount of money a firm spent on producing the goods that it sells. Companies record inventory as an asset in their financial statements.
Learn more about Working capital here: https://brainly.com/question/28504087
#SPJ11
when a bond is sold at a premium the: group of answer choices effective interest rate is less than the stated rate. effective interest rate is greater than the stated rate. effective interest rate relative to the stated rate is not known. interest expense during the life of the bond exceeds the amount of cash interest payments during the life of the bond.
When a bond is sold at a premium the effective interest rate is less than the stated rate. This statement is true regarding a bond sold at a premium. When a bond is sold at a premium, it is selling for more than its face value.
Bond premiums arise when the stated interest rate (coupon rate) of the bond is greater than the market interest rate on the date the bond face value issued.
Bond premiums are established by market forces, and they reflect a bond's creditworthiness and the current state of the economy. Bond premiums are one of the most well-known bond concept.
Bond premiums arise when the market is weak and the demand for securities is limited, while the supply is excessive. In comparison to the face value of the bond, the premium is expressed as a percentage.
Know more about face value here:
https://brainly.com/question/30626137
#SPJ11
Businesses typically have many systems, some internally developed, some purchased, and others acquired. Businesses want these systems to communicate with one another and provide users with easier access to data. There are three systems configurations that consolidate and coordinate data across multiple locations. These three include centralized systems, decentralized systems, and distributed systems. Each configuration has advantages and disadvantages.
Which of the following is a disadvantage of decentralized systems?
-It is the most expensive option as it involves higher maintenance costs.
-Since each location has its own system, there is an increase in security risk as more systems must be protected and monitored.
- The risk of business disruption is greater because any disruption impacts the entire system.
-It is more difficult to implement as it is the most complex of the three.
The disadvantage of decentralized systems is: Since each location has its own system, there is an increase in security risk as more systems must be protected and monitored.
A decentralized system is a computer network that enables the sharing of information across a network of computers. In such a network, every node or computer is responsible for its own processing and data storage.
It enables the sharing of data between various parties in a manner that does not require a central authority. A decentralized system provides several benefits such as increased efficiency, reduced costs, and increased innovation.
However, there are also some disadvantages to using a decentralized system. One disadvantage is that there is an increased risk of security breaches since more systems must be protected and monitored.
Learn more about disadvantge decentralized system https://brainly.com/question/13717247
#SPJ11
which aspect of preparing an accounting worksheet typically requires the greatest involvement by the accountant?
Adjustments is an aspect of preparing an accounting worksheet typically requires the greatest involvement by the accountant. It is one of the most crucial task of an accountant.
Adjustments are accounting entries made at the end of the accounting period to adjust accounts for the effects of internal and external events that have not been recorded. They are necessary to ensure that the financial statements are accurate and complete.
Adjustments are classified into two types, namely accruals and deferrals. Accruals are revenues or expenses that have been earned or incurred but not yet recorded, while deferrals are revenues or expenses that have been recorded but not yet earned or incurred.
However, it is important to take the time to ensure that the financial statements are accurate, as errors or omissions can lead to serious consequences for the organization, such as legal problems or financial problems.
Know more about financial statements here:
https://brainly.com/question/14951563
#SPJ11
david needleman estimates the fair market value of his law practice including the small building in which it is located, at $2.8 million. he would like to structure a transfer of his law practice and the building to his son tom in a manner that tom could cope with financially and that would provide dave with a retirement income stream. which of the following transfer mechanisms are best for accomplishing this objective?
The best transfer mechanisms for accomplishing the objective of David Needleman transferring his law practice and building to his son Tom in a manner that Tom can cope with financially and providing Dave with a retirement income stream include one of the following: lease agreements, installment purchase, ESOP or outright sale.
Option A: A lease arrangement that would pay Dave a fixed rent and allow Tom to obtain ownership when he could afford it. This would be appropriate if Tom could not afford to purchase the practice and building outright.Option B: An installment purchase agreement in which Tom pays Dave over time. This would be suitable if Tom could not afford to buy the practice and building outright but could afford to pay for it over time with interest. An installment purchase agreement is a contract that obligates a buyer to pay for goods over time. The buyer takes possession of the goods but pays for them in installments.Option C: An ESOP, or Employee Stock Ownership Plan, could be used to transfer ownership of the practice and building to Tom over time. An ESOP would be suitable if Tom was a qualified employee who would benefit from the ownership of the practice and building over time. An ESOP is a type of employee benefit plan that purchases company stock to benefit employees.Option D: An outright sale would be appropriate if Tom could afford to purchase the practice and building outright. The outright sale would provide Dave with cash proceeds that could be used for his retirement income stream.Therefore, to get the fair market value of his law practice, Mr. Needleman can choose the lease agreement as the best transfer mechanism for the required return.
Learn more about lease here: https://brainly.com/question/3196529
#SPJ11
If the natural rate of unemployment exceeds the actual rate of unemployment, which of the following will occur in the long run in the absence of govemment intervention?
a There will be cyclical unemployment.
b Input prices will derease.
с Nominal wages will increase
d The aggregate demand curve will shift to the left.
e The short-run aggregate supply curve will shift to the right.
If the natural rate of unemployment exceeds the actual rate of unemployment, nominal wages will increase in the long run in the absence of government intervention.
Nominal wages are the amount of money paid to employees as remuneration for their labor, regardless of their actual purchasing power, and they often follow an upward trend.
The natural rate of unemployment is the percentage of people who are unemployed because of changes in the economy, such as recessions, business cycles, or economic growth.
The nominal wage rate, in particular, refers to the wage rate in current prices, and it is unlikely to be influenced by the state of the economy, such as inflation, growth, or recession.
The long-run trend of nominal wages is upward, which implies that as the economy grows, nominal wages will rise.
As a result, if the natural rate of unemployment exceeds the actual rate of unemployment, nominal wages will increase over time in the absence of government intervention.
Learn more about nominal wages here:
https://brainly.com/question/31090808
#SPJ11
Ideally, GDP and other measures of national income converted to U.S. dollars, should be calculated on the basis of purchasing power parities or through direct comparisons of actual prices for a given product. true oe false?
The given statement "Ideally, GDP and other measures of national income converted to U.S. dollars, should be calculated on the basis of purchasing power parities or through direct comparisons of actual prices for a given product" is true.
What is purchasing power parity? Purchasing power parity (PPP) is a relative measure of a country's economic well-being that compares the value of goods and services between different countries based on exchange rates. It shows the relative strength of a currency in terms of the quantity of goods and services it can purchase. GDP and other measures of national income converted to U.S. dollars should be calculated on the basis of purchasing power parities or through direct comparisons of actual prices for a given product, according to the statement, which is true. Therefore, this statement is true.
Read more about income here:https://brainly.com/question/30157678
#SPJ11
a company sells two products. product a sales total $28,000 and product b sales total $12,000. total contribution margin is $18,000 for product a and $9,000 for product b. the weighted average contribution margin ratio is
The weighted average contribution margin ratio is 67.5 %
How to solve= total contribution margin / total sales revenue
=(18000 + 9000) / ( 28000 + 12000)
= 27000/ 40000
=0.675 x 100
= 67.5 %
The weighted average contribution margin ratio is a financial metric used to calculate the overall profitability of a company's product or service offerings.
Contribution margin is the difference between a company's revenue and variable costs, which are the costs directly associated with producing or providing the product or service. The contribution margin ratio is the contribution margin expressed as a percentage of revenue.
Read more about weighted average contribution margin ratio here:
https://brainly.com/question/28861960
#SPJ1
the balance in an account triples in 13 years. assuming that the internet is compounded continuously, what is the annual percentage rate
Given that the balance in an account triples in 13 years, assuming that the interest is continuous compound, the annual percentage rate is 8.45%.
Step 1: Given that the account is compounded continuously, the continuous compound interest formula is used. A = Pe^(rt), where A is the amount after t years, P is the initial principal, e is the mathematical constant e, r is the annual interest rate, and t is the time in years.
Step 2: Let the initial balance of the account be P. After 13 years, the account balance will triple, so the final balance will be 3P. Hence, using the formula,3P = Pe^(r*13)
We simplify this equation to,3 = e^(13r)
Take the natural logarithm of both sides to isolate the exponent. We obtain, ln 3 = 13r ln e
We can now substitute ln e with 1 because e is a constant equal to 2.718.
Thus, ln 3 = 13r
Multiplying both sides by (1/13),r = (1/13) ln 3
Let's plug in the values,
r = (1/13) ln
3r = (1/13) (1.099)
r = 0.0845, which is approximately 8.45%.
Hence if the account triples by 13 years and continuous compounding interest, the account balance is 8.45%.
Know more about continuous compound here:
https://brainly.com/question/30761889
#SPJ11
Economic theory:
a. seeks to explain economic events
b. seeks to predict economic events
c. abstracts from the many detail that surrounds an economic event
d. all of the above
Economic theory is often a mixture of numerous subfields that address specific economic questions. Option d. all of the above is the correct answer.
What is an economic theory?
Economic theory surrounds the production, distribution, and consumption of goods and services. This study uses models to examine how economic agents, such as consumers and producers, interact in the marketplace. They utilize empirical data to test and refine the models' hypotheses.
They use theories and concepts to address complex economic issues that impact millions of people worldwide. They are attempting to answer fundamental questions about the distribution of income, wealth, and opportunities through economic research.
The economic theory encompasses a wide range of fields, including microeconomics, macroeconomics, international economics, behavioral economics, and econometrics. These fields use several methodologies to analyze and make sense of the world's economic activity.
As a result, economic theory is often a mixture of numerous subfields that address specific economic questions.
Therefore, option d. all of the above is the correct answer.
Learn more about Economics here:-
https://brainly.com/question/17996535
#SPJ11
when lower income groups are more affected by a tax than higher income groups, the tax structure in place is
When lower income groups are more affected by a tax than higher income groups, the tax structure in place is regressive.
What is a regressive tax system?A regressive tax is a tax that has a disproportionate effect on individuals with lower incomes. This means that the tax levied decreases as income increases. As a result, it is a tax on the consumption of goods and services, and it falls more heavily on low-income individuals.
A regressive tax places a larger burden on those who can least afford it. Lower income groups are more affected by a regressive tax structure than higher income groups. The income of a low-income family is not sufficient to meet their daily needs.
As a result, any additional taxes paid by low-income earners have a more significant impact on their well-being than on those with higher incomes. There are a few different types of regressive taxes, such as sales taxes, property taxes, and excise taxes.
What is a progressive tax system?A progressive tax structure is one in which the tax rate rises as the taxable amount rises. The amount of tax payable increases as the taxable amount increases. The government usually implements progressive taxes to reduce wealth inequality by raising taxes on the wealthy while lowering taxes on the poor.
A progressive tax system is designed to be equitable by taxing individuals based on their capacity to pay. High-income earners are taxed more, while low-income earners are taxed less in a progressive tax structure. As a result, it redistributes wealth from the wealthy to the less fortunate.
Learn more about regressive tax here:
brainly.com/question/21404149
#SPJ11
Which of the following statements is true with regard to review services performed under Statements on Standards for Accounting and Review Services?
A. To perform a review, an accountant need not be independent but should disclose that fact.
B. In a review, an accountant will express limited assurance as to generally accepted accounting principles on the financial statements.
C. In a review, an accountant gives no assurance as to generally accepted accounting principles on the financial statements.
D. An accountant must have extensive knowledge of the client's business, industry, and the economy to perform a review.
The true statement with regard to review services is that "in a review, an accountant will express limited assurance as to generally accepted accounting principles on the financial statements." Thus, B is correct.
A review engagement is a type of service that provides a moderate level of assurance that the financial statements are free from material misstatements. However, this level of assurance is lower than an audit, and the accountant does not express an opinion on the financial statements as a whole.
Instead, the accountant provides limited assurance that the financial statements are in accordance with generally accepted accounting principles (GAAP) or another applicable financial reporting framework. Therefore, statement B is true, and statements A, C, and D are false.
Learn more about accounting https://brainly.com/question/26690519
#SPJ11
Is this correct? If the boxes are checked that means it is true, if unchecked they are not true.
Policy makers in the U.S. government have long tried to write laws that encourage growth in per capita real GDP. These laws typically do one of three things:
a. They encourage firms to invest more in research and development in order to boost technology.
Government grants patents for inventions. Establish a system of public schools and universities. Grants from National Science Foundation Grants from National Institute of Health Tax credits for R&D costs. Health savings accounts Education subsidies for veterans Lower tax rates on income earned through savings. 529 education savings accounts Retirement savings plans Government-provided student loans
b. They encourage individuals to save more in order to boost the physical capital stock.
Government grants patents for inventions. Establish a system of public schools and universities. Grants from National Science Foundation Grants from National Institute of Health Tax credits for R&D costs. Health savings accounts Education subsidies for veterans Lower tax rates on income earned through savings. 529 education savings accounts Retirement savings plans Government-provided student loans
c. They encourage individuals to invest more in education in order to boost the stock of human capital.
Government grants patents for inventions. Establish a system of public schools and universities. Grants from National Science Foundation Grants from National Institute of Health Tax credits for R&D costs. Health savings accounts Education subsidies for veterans Lower tax rates on income earned through savings. 529 education savings accounts Retirement savings plans Government-provided student loans
For each of the above three points, please name a law or government program with that intention.
Yes, your understanding is correct. If a box is checked, it means that the statement is true, and if unchecked, it means that the statement is not true.
Here are some examples of laws or government programs that align with the three points mentioned:
a. Encourage firms to invest more in research and development in order to boost technology:
The National Science Foundation Grant program provides funding for research in science and engineering.
The National Institute of Health provides grants for medical research and development.
The Research & Development Tax Credit provides a tax credit to businesses for their expenses related to research and development.
b. Encourage individuals to save more in order to boost the physical capital stock:
The 529 Education Savings Plan allows families to save for college expenses tax-free.
The Retirement Savings Contribution Credit, also known as the Saver's Credit, provides a tax credit to low- and moderate-income taxpayers who contribute to a retirement account.
c. Encourage individuals to invest more in education in order to boost the stock of human capital:
The GI Bill provides educational benefits to veterans to help cover the costs of education or training.
The Pell Grant program provides need-based grants to low-income undergraduate students to help them pay for their education.
The Federal Work-Study program provides part-time jobs for undergraduate and graduate students with financial need, allowing them to earn money to help pay for education expenses.
You can read more about Research & Development at https://brainly.com/question/29782299
#SPJ11
exercise 20.7 (static) using cost-volume-profit formulas (lo20-4, lo20-5, lo20-6) murder to go! writes and manufactures murder mystery parlor games that it sells to retail stores. the following is per-unit information relating to the manufacture and sale of this product. unit sales price $ 30 variable cost per unit 6 fixed costs per year 360,000 a. determine the contribution margin ratio. b. determine the sales volume (in dollars) required to break even. c. determine the sales volume (in dollars) required to earn an annual operating income of $440,000. d. determine the margin of safety (in dollars) if annual sales total 60,000 units. e. determine the operating income if annual sales total 60,000 units.
A. Contribution margin ratio: Contribution margin = Unit sales price - Variable cost per unit = $30 - $6 = $24
Contribution margin ratio = Contribution margin / Unit sales price = $24/$30 = 0.8
B. To break even, total sales volume (in dollars) must equal total fixed costs:
Break even sales volume (in dollars) = Total fixed costs = $360,000
To earn an operating income of $440,000, the total sales volume (in dollars) must be:
Required sales volume (in dollars) = Total fixed costs + Operating income = $360,000 + $440,000 = $800,000
D. The margin of safety (in dollars) is calculated by subtracting the break-even sales volume (in dollars) from the actual sales volume (in dollars):
Margin of safety (in dollars) = Actual sales volume (in dollars) - Break-even sales volume (in dollars) = $30 x 60,000 units. - $360,000 = $1,800,000 - $360,000 = $1,440,000
E. Operating income is calculated by multiplying the contribution margin ratio with the actual sales volume (in dollars):
Operating income = Contribution margin ratio x Actual sales volume (in dollars) = 0.8 x ($30 x 60,000 units) = $14,400,000 x 0.8 = $11,520,000
To learn more about “Operating income” refer to the https://brainly.com/question/25895372
#SPJ11
threatening your employer with a gun in order to get a raise would not be considered a white-collar crime because this conduct involves: blank . multiple choice question.
Threatening your employer with a gun in order to get a raise would not be considered a white-collar crime because this conduct involves desperation.
What is white-collar crime?White-collar crime refers to non-violent crime that is committed for financial gain. The term "white-collar crime" was coined in 1939 by sociologist Edwin Sutherland, who defined it as "a crime committed by a person of respectability and high social status in the course of their occupation."
Threatening your employer with a gun in order to get a raise would not be considered a white-collar crime because this conduct involves physical force. It is not a financial crime committed by an employee, but rather a violent crime against an employer, which is not related to the employee's job. This act may lead to criminal charges and imprisonment, regardless of the individual's occupation or social status.
Your question is incomplete but most probably your full question was:
Threatening your employer with a gun in order to get a raise would not be considered a white collar crime because this conduct involves__________
Multiple choice question.
desperationa raiseyour employer violenceLearn more about white collar crime at https://brainly.com/question/1573032.
#SPJ11
In 1990 the United States began to levy a tax on sales of luxury cars. For simplicity, assume that the tax was an excise tax of $6000 per car. The accompanying figure shows hypothetical demand and supply curves for luxury cars. a. Under the tax, what is the price paid by consumers? What is the price received by producers? What is the government tax revenue from the excise tax? Over time, the tax on luxury automobiles was slowly phased out (and completely eliminated in 2002). Suppose that the excise tax falls from $6000 per car to $4500 per car.b. After the reduction in the excise tax from $6000 per car to $4500 per car, what is the price paid by consumers? What is the price received by producers? What is tax revenue now?c. Compare the tax revenue created by the taxes in parts a and b. What accounts for the change in tax revenue from the reduction in the excise tax?
The excise tax of $6,000 per car will result in a charge for consumers of $35,000 and a price for produce of $29,000. Excise tax divided by the number of vehicles sold yields a figure of ($6000)*(10,000), or $60,000,000.
What occurs when a tax is imposed on a product's sellers?The demand curve won't alter if a tax is imposed on the product's supplier; instead, the tax will increase the equilibrium price and decrease the equilibrium quantity.
Under the excise tax of $6000 per car
the original supply curve shifted upward by $6000.
The equilibrium price would be $30,000
Consumers would pay a price of $30,000 plus the $6000 tax, for a total price of $36,000 per car.
After the reduction in the excise tax from $6000 per car to $4500 per car
The original supply curve shifted upward by $4500.
To know more about consumers visit:-
https://brainly.com/question/30132393
#SPJ1
Assume that Schmitt Inc. provides car parking services in a perfectly competitive output market and hires labor in a perfectly competitive input market. The market price per car parked is $10, the daily market wage per worker is $100, and fixed costs are $50 per day. The table above shows the number of workers required to park different quantities of cars per day. (a) Calculate the marginal revenue product of the second worker. Show your work.
(b) How many workers will Schmitt Inc. hire to maximize profit? Relative to this number of hired workers, explain why Schmitt Inc. will not hire one additional worker. Your answer must use marginal analysis and numbers from the table.
(a) The marginal revenue product of the second worker is the additional revenue generated by one extra worker, which is calculated by multiplying the additional cars parked (1 car) by the price per car parked ($10). Therefore, the marginal revenue product of the second worker is $10.
(b) Schmitt Inc. will hire 4 workers to maximize profit. The marginal revenue product of the fourth worker is the additional revenue generated by one extra worker, which is calculated by multiplying the additional cars parked (2 cars) by the price per car parked ($10). Therefore, the marginal revenue product of the fourth worker is $20. This is greater than the daily market wage per worker ($100) and the fixed costs ($50 per day). Therefore, it is profitable to hire one more worker and Schmitt Inc. will hire 4 workers to maximize profit. Relative to this number of hired workers, Schmitt Inc. will not hire one additional worker because the marginal revenue product of the fifth worker is the additional revenue generated by one extra worker, which is calculated by multiplying the additional cars parked (1 car) by the price per car parked ($10).
Therefore, the marginal revenue product of the fifth worker is $10. This is less than the daily market wage per worker ($100) and the fixed costs ($50 per day). Therefore, it is not profitable to hire one more worker and Schmitt Inc. will not hire one additional worker.
Know more about Marginal revenue product here:-
https://brainly.com/question/14039562#
#SPJ11
equipment was purchased by ayayai manufacturing on january 1 2025 for 117500 ayayais policy is to adjust its accounts at year end which is the approiate adjusting journal entry g
On December 31, 2025, Ayayai Manufacturing purchased equipment for 117,500 Ayayais. In order to properly adjust their accounts at the year-end, they will need to make an adjusting journal entry.
The journal entry should be as follows:
Debit: Equipment 117,500
Credit: Accumulated Depreciation - Equipment 117,500
The adjusting entry will allow Ayayai Manufacturing to accurately reflect their equipment balance at the year-end. The debit of 117,500 to the Equipment account will record the cost of the asset. The credit of 117,500 to the Accumulated Depreciation - Equipment account will reduce the Equipment account balance, as this account is used to record the amount of depreciation taken on the asset since it was purchased. This ensures that the asset’s cost is properly accounted for.
By making this adjusting journal entry, the financial statements at the year-end will accurately reflect the purchase of the equipment and the cost that is associated with it. This helps ensure the accuracy of the financial statements and allows investors and creditors to make more informed decisions.
To learn more about accounts here:
https://brainly.com/question/26181559#
#SPJ11
Complete question Equipment was purchased by Skysong Manufacturing on January 1, 2022, for $102500. Skysong's policy is to adjust its accounts at year-end. Which is the appropriate journal entry to record depreciation at year-end if the company expects to use equipment consistently for 5 years?
self-generated feedback is a more powerful motivator than externally generated feedback.
The statement is True. self-generated feedback is a more powerful motivator than externally generated feedback.
Self-generated feedback is the process of evaluating one's own performance, behavior or actions without external input or guidance. It involves a reflective and introspective approach to analyzing one's own strengths and weaknesses, and identifying areas for improvement. Self-generated feedback can be a powerful tool for personal growth and development, as it allows individuals to take ownership of their own learning and development.
Self-generated feedback can take many forms, including self-reflection, self-assessment, and self-evaluation. It requires a willingness to be honest and objective about one's own performance, and a commitment to continuous improvement. Self-generated feedback can be particularly useful in situations where external feedback is limited or unavailable, such as in remote work or self-directed learning environments.
To learn more about Self-generated feedback visit here:
brainly.com/question/31182659
#SPJ4
Complete Question:
self-generated feedback is a more powerful motivator than externally generated feedback. true/false
what three tips on how to incorporate an influencer strategy at your next event by allen yesilevich?
Here are three tips on how to incorporate an influencer strategy at your next event:
Set clear goals: Before you begin identifying potential influencers, it's important to have a clear understanding of your event goals and what you hope to achieve through influencer marketing. Are you looking to increase event attendance, generate buzz on social media, or drive engagement with your target audience? Once you've defined your goals, you can better identify influencers who can help you achieve them.
Build authentic relationships: Influencer marketing is most effective when you build authentic relationships with influencers. Take the time to research potential influencers and their content, engage with them on social media, and provide value to them before you pitch a partnership. This can help establish a foundation of trust and ensure that the influencer's endorsement of your event is genuine.
Provide value to your influencers: To incentivize influencers to promote your event, consider offering them value in exchange for their participation. This could include free event tickets, exclusive access to speakers or VIP areas, or compensation for their time and effort. By providing value to your influencers, you can build stronger relationships and ensure that they are motivated to promote your event to their audience.
Incorporating an influencer strategy at your next event can help you reach a wider audience and generate excitement around your event. By setting clear goals, building authentic relationships, and providing value to your influencers, you can create a successful influencer marketing campaign that drives results.
Learn more about marketing here brainly.com/question/15483550
#SPJ4
A perfect correlation, whether positive or negative, is ________ in the real world.Answers:A. found in most human studiesB. zeroC. found in most animal studiesD. very unlikely to occur
The given statement 'A perfect correlation, whether positive or negative, is very unlikely to occur in the real world' is true. Therefore, option D is the correct answer.
Correlation is a statistical concept that refers to the degree of connection between two variables. It is a type of study that determines the relationship between variables. The correlation can be categorized into two types. These are:Positive correlationNegative correlationPositive correlation:In a positive correlation, variables move in the same direction. That is, if one variable increases, the other variable also increases. This is also called direct correlation.
Examples of positive correlation are the height and weight of a person. If height increases, weight also increases.Negative correlation:In negative correlation, variables move in opposite directions. That is, if one variable increases, the other variable decreases. This is also called inverse correlation.Example of negative correlation are price and demand. If the price of the product increases, the demand for the product decreases.So, the correct option is D.
Learn more about research methods and statistics in psychology:https://brainly.com/question/30493220
#SPJ11
Answer:
sD. very unlikely to occur
Explanation:
Question 14 Previous Next> The industry-low, industry-average, and industry-high cost benchmarks that appear on p. 6 and p. 7 of each issue of the Footwear Industry Report o are important enough to always merit attention by your company's managers, this is because when the benchmarks for one or more measures reveal that your company's outcome(s) were too far out-of-line and almost certainly impaired/weakened your company's overall performance, then your management team is well-advised to consider taking corrective action in the next decision round are of considerable value to the managers of companies pursuing a low-cost strategy but are of very limited value to company managers employing other types of strategies. are most valuable to the managers of companies whose cost benchmarks are above the industry-average benchmarks and/or who are looking for evidence to confirm a suspected need to secure more celebrity endorsements in the upcoming decision round and steal branded market share away from rivals in one or more regions are of little value because the benchmarking data do not identify which companies have the lowest/highest costs for any of the reported cost benchmarks. are of considerable value to the managers of companies whose prior-year EPS was below the industry-average benchmark in one of more geographic regions.
The industry-low, industry-average, and industry-high cost benchmarks that appear on p. 6 and p. 7 of each issue of the Footwear Industry Report Option A: are important enough to always merit attention by your company's managers; this is because when the benchmarks for one or more measures reveal that your company(s) outcomes were too far out-of-line and almost certainly impaired/weakened your company's overall performance, then your management team is well-advised to consider taking corrective action in the next decision round.
What is the industry-low?The industry-low, industry-average, and industry-high cost benchmarks that appear on p. 6 and p. 7 of each issue of the Footwear Industry Report are important for all company managers to pay attention to because they provide a useful comparison of a company's performance against the rest of the industry.
Therefore, If a company's costs are significantly higher or lower than the industry benchmarks, it can indicate that there are potential issues that need to be addressed in order to improve overall performance.
Read more about industry here:
https://brainly.com/question/8847772
#SPJ1
Consider an oligopolistic market with 3 identical firms, all three making a homogeneous product. The inverse demand for this product is P(Q) = 3, 000 − 6Q where Q is the market quantity. The marginal cost of production is equal to the average cost and is identical for all firms and given by c = 2, 000.
(a) Solve for the best response function for each of the three firms.
(b) Calculate the Nash equilibrium output, price and profits of each firm using quantity as the strategic variable (i.e. assuming firms choose quantities).
(c) Compute the Lerner index for each firm.
(d) Assume two of the firms merge. Assume that the merged firm has marginal cost 1,600. What is the profit of the merged firm? (e) Given your answer to pard (d), would the firms want to merge? Explain. (f) Would the firm that was not part of the merger benefit from the merger? Explain.
(a) Market Quantity: The market quantity will be equal to the sum of the individual quantity produced by the 3 identical firms.
Q=q1+q2+q3
In the oligopolistic market, the price is determined by the industry's total quantity supplied. Therefore, it is important to derive the market demand function from the inverse demand function.
P=3000-6Q
3000-6(q1+q2+q3)=p
The three identical firms will have the same marginal cost (MC), average cost (AC), and price (P). They will determine their production levels based on their individual marginal revenue (MR), which is determined by the following equation:
MR=δTR/δQ
(b) The following equation can be used to calculate the equilibrium quantity:
MC=MR
MC=3(3000-6q)/3q
q=500
The price is determined by the market demand function:
P=3000-6Q
P=3000-6(1500)
P=21000
(c) Each firm's profit can be calculated using the following formula:
Profit=(P−ATC)Q
=(21000-2000)500
=$9,500,000
(d) The profit of the merged firm will be equal to:
Profit=(P-ATC)Q
=(21000-1600)(1000)
=$19,400,000
(e) Firms may want to merge because it increases their market power, reducing competition and increasing profits. In this scenario, the merged firm will enjoy significantly higher profits as compared to when all three firms were competing in the market.
(f) The firm that was not a part of the merger would not benefit from the merger. The merged firm would reduce the market quantity and increase the price, resulting in a decrease in total profits for the remaining firm. This is because, after the merger, the merged firm has a significant amount of market power and can control the price to a large extent.
for such more questions on market demand function
https://brainly.com/question/24553900
#SPJ11
A rising GDP and a falling unemployment rate are most likely indicators that an economy is in which phase of the business cycle?
answer: expansion
A rising GDP and a falling unemployment rate are most likely indicators that an economy is in the expansion phase of the business cycle.
During the expansion phase, the economy experiences an increase in economic activity and employment opportunities, resulting in a rise in GDP and a decline in unemployment rate. This phase is typically characterized by increased consumer and business spending, rising stock prices, and increasing confidence in the economy. The expansion phase is usually followed by the peak, recession, and trough phases in the business cycle.
The business cycle refers to the fluctuation of economic activity in an economy over time. It is typically characterized by alternating periods of expansion and contraction, with the peak, recession, and trough phases in between. Various factors contribute to the business cycle, including consumer spending, business investment, and government policies.
learn more about GDP here
https://brainly.com/question/30504843
#SPJ1
in an employer-sponsored defined benefit pension plan, the interest cost included in the pension expense represents:
In an employer-sponsored defined benefit pension plan, the interest cost included in the pension expense represents the amount of interest that accumulates on the pension's liability over a particular period.
Let's find out more about the cost of the pension. Pension Definition The cost paid by a business to manage and fund its pension plan over a specific time period is referred to as a pension expenditure. In a defined-benefit plan, a number of assumptions about how pension payments will be distributed among plan participants in the future are used to calculate the pension cost. A pension plan is a retirement benefit programme offered by a business that offers qualified workers a set benefit distribution upon retirement. An employer determines the defined-benefit plan's financial needs and contribution level based on the projected liabilities for retirement benefit distribution. The following formula is used to calculate the interest cost component of the pension costs in an employer-sponsored defined-benefit pension plan:Interest cost = discount rate * projected benefit obligation (PBO) at the beginning of the year. The rise in a pension plan's liabilities brought on by the accrual of interest on the PBO is referred to as the interest cost. PBO serves as a gauge for the estimated benefit obligations that the employer will have to fulfil towards pension plan participants.
For more questions on pension plan
https://brainly.com/question/28008155
#SPJ11
michelle and ben are in the market for a new home. before getting too far into their search, they start by visiting a mortgage broker to learn more about the mortgage terms they may qualify for and compare mortgage options. what type of system is the mortgage broker using to support this?
Michelle and Ben are in the market for a new home. Before getting too far into their search, they start by visiting a mortgage broker to learn more about the mortgage terms they may qualify for and compare mortgage options. The mortgage broker is using a lead management system to support this.
What is the loan origination process?The mortgage broker uses a lead management system to support the process of comparing mortgage options. A lead management system is a software tool that helps mortgage brokers track leads and customers through the loan origination process. The system provides a way to capture leads from various sources and track the progress of each lead through the sales funnel, from initial inquiry to closing.
The lead management system helps mortgage brokers in organizing their leads and manage their business more effectively. Providing detailed tracking and analysis enables them to see where leads are coming from, which marketing channels are most effective, and how their sales team is performing. It also helps mortgage broker to manage their relationships with customers, communicate with them efficiently, and follow up with leads in a timely manner.
For more information regarding the loan origination process, you can check the below link
brainly.com/question/29804297
#SPJ11