please answer in text form and in proper format answer with must explanation , calculation for each part and steps clearly The more elastic the demand for a good, theO 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.

The correct answer to this question is d. less a sales tax raises the price paid by buyers.We must…

Answered: The more elastic the demand for a good,…

Cornerstones of Financial Accounting

4th Edition

ISBN:9781337690881

Author:Jay Rich, Jeff Jones

Publisher:Jay Rich, Jeff Jones

Chapter5: Sales And Receivables

Section: Chapter Questions

Problem 4DQ

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Above all else, consumers want to buy products from people they trust. A) True B) False
Lowering price does not always increase revenue with increased demand. Besides reducing price, what else can a firm do to stimulate demand for its product?
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.
- A seller in a perfectly competitive market can increase his profit in the short run by: (a) Increasing his selling price above the market price (b) Decreasing his selling price so he sells more output (©) Conducting an effective advertising campaign for his product (d) None of the above
Question-. If a pure monopolist can price discriminate by separating buyers into two or more groups: A. the marginal revenue curve will now shift to a position above the demand curve. B.marginal revenue will become less at each level of output than it would be without price discrimination. C. the firm will face multiple marginal revenue curves. E. the marginal revenue curve and the total revenue curve will now coincide I think the answer is C?
When a buyer makes a marginal decision on how to spend an additional dollar, it allows them to: Select one: O a. maximize utility. O b. maximize wealth. O c. minimize their budget constraint. O d. spend their entire budget.
A price taker is a, a firm that accepts different prices from different customers. b. a consumer who accepts different prices from different firms. O c. a perfectly competitive firm. d. a firm that cannot influence the market price. Oe, both C and D
the margin of safety is the reduction in sales that can occur before the break-even point is reached. It measures the cushion that a particular level of sales can decline without incurring a loss. Discuss two limitations of relying on a margin of safety when predicting future sales. Is it reliable? Why or why not? Provide support for rationale.
please help me solve exercise 1 and explain every step. thank you!
Chapter nework The availability of close substitutes • Whether a good is a luxury or necessity How broadly the market is defined The time horizon under consideration A good with no close substitutes is predicted to have relatively the price of the good were to increase. demand, since consumers cannot easily switch to a substitute good if The price elasticity of demand of a good depends in part on its relative necessity in comparison to other goods. Assume the following goods all have approximately the same price. Which of the goods has the most elastic demand? O Self-driving cars Insulin for people with diabetes The price elasticity of demand for a good also depends on how the good is defined.
Please provide some explanation for the below question: 1. When applying lower of cost or market, market value A. is defined as the selling price B. should not exceed the net realizable value C. should not exceed the net realizable value less an allowance for a normal profit margin D. should not exceed the net realizable value plus an allowance for a normal profit margin

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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.