ESSENTIALS OF ECONOMICS WITH CONNECT
ESSENTIALS OF ECONOMICS WITH CONNECT
11th Edition
ISBN: 9781266628146
Author: SCHILLER
Publisher: MCG
Question
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Chapter 4, Problem 5P
To determine

(a)

To find the amount of coffee that decline if the price of coffee increased by 10%.

To determine

(b)

To find the increase or decrease in the sales of coffee.

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Frederick Jones operates a sole proprietorship business in Trinidad and Tobago. His gross annual revenue in 2023 was $2,000,000. He wants to register for VAT, but he is unsure of what VAT entails, the requirements for registration and what he needs to do to ensure that he is fully compliant with VAT regulations. Make reference to the Vat Act of Trinidad and Tobago and explain to Mr. Jones what VAT entails, the requirements for registration and the requirements to be fully compliant with VAT regulations.
Can you show me the answers for parts a and b? Thanks.
What are the answers for parts a and b? Thanks
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