The more elastic the demand for a good, the O more a sales tax raises the price paid by buyers. O less a sales tax lowers the price paid by buyers. O more a sales tax lowers the price paid by buyers. O less a sales tax raises the price paid by buyers.
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- QUESTION 22 This question asks you to compare the Slutsky equations for the consumer's model with monetary income (CM) and for the consumer's model with endowments (CE). Consider the demand for good x and how this demand changes as the price of good x increases O a. In both the CM and the CE models, if x is a normal good, then the demand for good x must decrease O b. In both the CM and the CE models, if x is an inferior good, then the demand for good x must increase Oc Suppose x is a normal good. While in the CM model the demand for good x must decrease, in the CE model the demand for good x may increase if the consumer is a net seller of good x before the change in price Od. Suppose x is a normal good. While in the CM model the demand for good x must decrease, in the CE model the demand for good x may increase if the consumer is a net buyer of good x before the change in price Oe Suppose x is a normal good. While in the CM model the demand for good x must increase, in the CE model the…Value added tax is the tax that is realized at many points in the supply chain, right from the manufacturer to the retailer. Which of the following calculation is correct about Value Added? a. Selling price - Purchase price b. Selling price + Purchase price c. Purchase price Profit d. Selling price - ProfitExplains it correctly. Not copy paste
- Is it impossible when the new sales price is higher than the original price if we remove tariff. -the quantity of firm A and B is higher when the firm C remove tariff, and the quantity of firm C decrease.Why does Sales discounts are variable consideration?In the cost-volume-profit analysis, income taxes a.increase the sales volume required to break even. b.are treated as a variable cost. c.are treated as a fixed cost. d.increase the sales volume required to earn a desired profit.
- The equation for Gross Profit is "Gross Profit = Revenues - Cost of Goods." Which of the following would increase the Gross Profit?Monopolists sometimes practice price discrimination to O a. get rid of surplus product. O b. decrease output. O c. out of fairness to disadvantaged groups. O d. increase profit. O e. increase deadweight loss.Which of the following is not another way of describing the marginal propensity to consume? a. autonomous consumption spending b. the slope of the consumption function c. the amount by which real consumption spending rises when real disposable income increases by one dollar d. MPC e. the change in real consumption spending divided by the change in real disposable income
- If the government institutes a specific tax for a good that has a perfectly inelastic demand curve A)the producer passes the entire tax on to the consumer. B)the equilibrium price drops. C)the producer must absorb the entire tax. D)the producer can generally only pass part of the tax onto the consumer.Question 4 Explain how does a decrease in the current income y affect the consumer's consumption-saving decision. In particular, explain: 1) How will current consumption c, future consumption c', and savings s change; 2) Are there any substitution effect or income effect. Make sure you draw two figures, one for the borrowers and one for the lenders.Which of the following statements is correct? Da. If price equals cost, sellers are earning no profits Ob.lf price equals cost, sellers are earning their opportunity cost Oct price equals cost, economic profits are greater than zero Od lf price equals cost, economic profits are less than zero
