Use the diagram below to answer the following questions. Assume an initial market price of $4.
a. Identify the initial area of consumer surplus (CS1) when the market price is $4. Next, assume that supply decreases and the market price rises to $5. Draw the new supply curve and then identify the new area of consumer surplus (CS2).
Instructions: (1) Use the tool provided 'CS1' to identify the initial area of consumer surplus. This will drop a small triangle with three endpoints onto the graph. Drag the endpoints to the appropriate position to identify the initial area of consumer surplus. (2) Then use the tool provided 'S2' to draw the new supply curve. (3) Use the tool provided 'CS2' and follow the same process as before to identify the second area of consumer surplus. (graph that needs to be filled out is below)
b. Due to the increase in price, consumer surplus
rises by more than $50
falls by less than $50
rises by less than $50
falls by more than $50
Answers
The above question is about Consumer Surplus. The supply curves have been indicated accordingly.
The Original Consumer Surplus (CS1) = $12.5The new consumer surplus (CS2) = $4.5Due to the increase in the prices, ΔCS falls by less than $50 (Option B)What is Consumer Surplus?The difference between what a consumer is prepared to pay and what they spent for a product is referred to as the consumer surplus. The difference between the market price and the lowest price a producer is prepared to take to create an item is the producer surplus.
The mathematical Expression for Consumer Surplus is given as follows:
CS = 1/2 (Equilibrium Q)(WTP price - Equilibrium price)
WTP - Willingness to Pay ( or Effective Demand)
CS1 = 1/2(5) (9-4)
= 1/2 * 5 * 5
= 25/2
CS1 = $12.5
CS2 = 1/2(4)(9-5)
= 2 *4
CS2 = $8
To determine the extent by which Consumer Surplus is reduced, we say
CS1 - CS2
= 12.5 - 8
ΔCS = $4.5
Hence, because of the rise in prices, Consumer Surplus fell by less than $50.
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Related Questions
What are the possible outcomes of a procure to pay process
Answers
Explanation: A well-documented procure-to-pay process:
Creates a frictionless environment where your employees get what they need without uncertainty. ...
Ensures consistent oversight into purchases and adherence to budgets and departmental prerequisites.
Reduces risks of ordering from unknown suppliers or making out-of-process, unsanctioned purchases
It increases visibility, reduces redundancy, and allows finance to track, analyze, and forecast spending
P.s hopes this helps!
Which of the following ALWAYS results in an increase in price and quantity?
a. an increase in demand with no change in supply
b. a decrease in demand and supply
c. an increase in supply with no change in demand
d. an increase in supply and a decrease in demand
Answers
Answer:
a . an increase in demand with no change in supply
An increase in demand with no change in supply is a result in an increase in price and quantity. Hence, option A is correct.
What is increase in price and quantity?In economics, this is referred to as the Law of Demand. When prices increase and demand falls, demand lowers. When the price drops, the quantity desired increases. This is the Law of Demand.
A price increase almost invariably leads to the delivery of more of that good or service, whereas a price decrease typically results in the delivery of less of it.
As the price rises, the quantity offered climbs as well. Generally speaking, lower costs come from a diminished supply. If expenses aren't increasing as quickly as prices, manufacturers will create more of the thing or commodity while prices are higher. Lower prices result in a cost squeeze that limits supply.
Thus, option A is correct.
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what is a set of policies, procedures, standards, processes, practices, tools, techniques, and tasks that people apply to technical and management challenges?
Answers
Methodology is a set of procedures, policies, practices that people apply to technical and management challenges.
The investigation of research methodologies is the most straightforward definition of methodology. The phrase, however, can also be used to describe the techniques themselves or the philosophical analysis of the supporting premises. A technique is a planned process for achieving a specific objective. This objective is often to generate new information or to validate assertions made by pre-existing knowledge within the framework of research. Typically, this entails a number of stages, including selecting a sample, gathering data from this specimen, and evaluating this data. A thorough description and evaluation of these procedures are part of the study of techniques. It also has evaluative components that involve contrasting various methodologies to determine their benefits and drawbacks in relation to various research objectives and circumstances.
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od
Finall Exam
Which of the following is true about a Restricted Entity?
Select the two responses that apply and then Submit
Restricted Entities appear with a ned "Restricted status tag
Assurance clients are Restricted Entities
All public companies are Restricted Entities
Question 5
All mutual funds are Restricted Entities
Answers
assurance clients are restricted
The following is true about a Restricted Entity is Restricted Entities appear with a red " Restricted " status tag and Assurance clients are Restricted Entities. The correct options a and b.
A restricted entity is a user account or connector that has been barred from sending email due to signs of compromise, which commonly include exceeding message sending and receiving limits. If you use the connector to send email, the communication is returned in the form of a non-delivery report (commonly known as an NDR or bounced message).
Any Person who is (i) a financial holding company, (ii) a bank holding company, (iii) a foreign bank subject for the BHCA, (iv) a savings and loan holding company under the Home Owners' Loan Act of 1933, as amended, or (v) an investment advisor, an investment company, or a broker-dealer is a Restricted Entity.
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The question is incomplete but the complete question most probably was:
Which of the following is true about a Restricted Entity?
Select the two responses that apply and then Submit
a.Restricted Entities appear with a ned "Restricted status tag
b.Assurance clients are Restricted Entities
c.All public companies are Restricted Entities
d.All mutual funds are Restricted Entities
One of the most effective skills you can develop to improve the quality of your communication is
Answers
Listening is one of the most effective skills you can develop to improve the quality of your communication.
What is Communication?Communication is generally defined as the transfer of information. The term may refer only to the messages that are transmitted, or to the field of study that studies such transmissions. Good communicators listen carefully, speak and write clearly, and respect different opinions. Being able to express emotions, share information, and share ideas are the essence of life. We all need to communicate.It is the art of transmission of messages from one person to another.Generally, communication is done between two persons or many persons in between,Skills for effective communication are as follows:
Be an attentive listener.Be specific and clear.Non-verbal communication is important.Relax.inform.visually.Show empathy.Integrity. It's an idea. We all need to communicate.Thus above all qualities are important for effective communication.
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To what extent can the sideling of harold on the appointment if carol be considered an ethical issue
Answers
The extent to which the sideling of Harold on the appointment of Carol can be considered an ethical issue is when one attempts ethical reasoning only with a perception of a crisis situation.
How can ethical issues be solved?In order to solve ethical issues, one needs to raise consciousness about the everyday dilemmas. Raising consciousness may be of help employing different approaches to dilemmas.
In the book Mountains and Passes, three approaches to ethical problem solving are described which include; virtues-based, principle-based, and case-based.
Therefore, the correct answer is as given above.
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MBSC has noticed several new trends in strength and
conditioning. Often, MSBC has implemented the trend
before clients even have a chance to ask about it. This
demonstrates which advantage of small business?
Oa. Ability to adapt to change
Ob. Independence
Oc. Simplified record keeping
Od. Personal relationships with customers and employees
Answers
Due to a lack of government regulation, a sole proprietorship is the simplest type of business to establish or dissolve. As a result, these types of businesses are extremely popular among sole proprietors, individual self-contractors, and consultants.
MSBC has implemented the trend before clients even have a chance to ask about it. This demonstrates Ability to adapt to change.
Why is sole proprietorship the easiest business?Due to a lack of government regulation, a sole proprietorship is the simplest type of business to establish or dissolve. As a result, these types of businesses are extremely popular among sole proprietors, individual self-contractors, and consultants.The legal control over a business is referred to as business ownership. It gives the owner the legal authority to direct business operations and transactions. There are six major business ownership structures, which are as follows: Single-person businesses. Partnerships.Risk and reward - A sole proprietor has complete control over their company's profits and losses. Control - A sole proprietorship's rights and responsibilities are solely with its owner. Without prior permission, no one else may interfere with a sole proprietor's business activities.To learn more about : proprietorship
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If an investment grew to $13,500 in 2 years and the interest amount earned was $1,150, calculate the nominal interest rate compounded quarterly.
Answers
Interest rate is 1.33 % , Where P = $13500 in 2yrs with interest amount is $1150
What is nominal interest rate?The interest rate before inflation is referred to as the nominal interest rate. Nominal can also refer to the advertised or stated interest rate on a loan, excluding any fees or interest compounding.Here given ,
P = $13500
i = ?
A = $1150
t = 2 yrs
n = 4 x 2 = 8
Formula to compound interest ,
A = P( 1 + I )ⁿ
$1150 = $13500 ( 1 + i ) ⁸
$1150 / $13500 = (1 + i)⁸
0.0851 = (1+ i) ⁸
1 +i = 8√.0851
1 + i = 2.33
i = 2.33 -1
i = 1.33 %
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Demand-pull inflation results from an
increase in prices from higher incomes.
How is this illustrated on a Classical
Model related to aggregate demand?
A. leftward shift in aggregate demand
B. a downward shift in aggregate demand
C. rightward shift in aggregate demand
Answers
Demand-pull inflation results from an increase in prices from higher incomes this illustrated on a Classical Model related to aggregate demand Rightward shift in aggregate demand.
What impact does demand-pull inflation have on total demand?When the overall demand rises while the supply stays the same or falls, this is known as demand-pull inflation. Prices for goods and services rise as a result of a lack of supply in response to rising demand.
What effects does demand-pull inflation have on prices?Because the demand curve is shifted to the right by demand-pull inflation, prices are raised. Customers now want more goods and services. Buyers will have to pay more for the restricted supply if supply does not rise in line with demand.
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Suppose an entrepreneur in New Hampshire wanted to expand her supply of maple syrup and maple sugar products to compete with similar businesses in the state. She knows she has to stay within fair market prices, especially since maple products are seasonal. She also wants to appeal to the related economic behavior. How would profit motive impact this entrepreneur’s decisions? Define profit motive and provide at least two examples of the role of profit motive in this type of business.
Answers
Companies can market their goods and services more effectively if they understand that many of their decisions are motivated by profit. A company, for example, may demonstrate how their subscription service can save someone time and money, thereby increasing their overall profit.
What is profit motive?The profit motive is the driving force behind businesses that seek to maximize their profits. The ultimate goal of a business, according to mainstream microeconomic theory, is "to make money" - not in the sense of increasing the firm's stock of means of payment, but in the sense of "increasing net worth." The profit motive is an individual's drive to engage in activities that will result in net economic gain. People are induced to invent, innovate, and take risks that they would not otherwise take because of the profit motive. The profit motive is beneficial in business because it motivates leaders to act. Profit motive influences purchasing and can influence supply and demand.To learn more about profit motive, refer to:
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Regarding Association Documents
Select the correct response:
a Buyer has no authority to change them and does not need to review them.
a Seller has no responsibility for these documents, it is the association's job.
a Buyer may see the covenants, but not the financial data until closing.
a Seller must provide documents for Buyer's review if requested by Buyer.
Answers
Regarding Association Documents a Seller must provide documents for Buyer's review if requested by Buyer.
What is the Association Documents?The Association Document can be described as the documents that can be regarded as the governing documents and this encompass the documents such as :
Articles of Incorporation Master Deed DeclarationCovenants Bylaws, Rules and Regulations.It should be noted that in this documents there are alot of rules as well as the guidelines that should be followed by the sellers to the buyers and this Association Document is been used on everyday basis.
In conclusion, the Association Documents help the sellers to know the do and donts when talking with the buyers so that he doesnt go against the law when tryng to transact with the buyers and so that he do not go against the right that is been given to the buyers un der the law.
Therefore, the last option is correct.
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Determine the costs assigned to ending inventory and to cost of goods sold using fifo
Answers
Using FIFO, the cost assigned to ending inventory is $8,296, and the cost assigned to the cost of goods sold is $20,774.
What is FIFO?FIFO simply means First-in, First-Out.
FIFO is a cost flow assumption that assigns cost to the cost of goods sold based on the understanding that the first goods brought into the store are the first to be sold.
Note that under the perpetual inventory system, the cost of goods sold is determined at each sales transaction.
Activities Units Acquired at Cost Units Sold at Retail
Jan. 1 Beg. inventory 285 at $13.40 $3,819
Jan. 10 Sales 250 units $43.40 $10,850
Mar. 14 Purchase 470 units $18.40 8,648
Mar. 15 Sales 400 units $43.40 17,360
July 30 Purchase 485 units $23.40 11,349
Oct. 5 Sales 460 units $43.40 19,964
Oct. 26 Purchase 185 units $28.40 5,254
Totals 1,425 units $29,070 1,110 units $48,174
Ending inventory 315 (1,425 - 1,110)
FIFO:Ending inventory = $8,296 (185 x $28.40 + 130 x $23.40)
Cost of goods sold = Cost of Goods Available for Sale - Cost of Ending Inventory)
= $20,774 ($29,070 - $8,296)
Cost of Goods Sold (Using Perpetual Inventory System):$3,350: 250 units $13.40
$7,185: 400 units ($13.40 x 35) + ($18.40 x 365)
$10,239: 460 units ($18.40 x 105) + ($23.40 x 355)
$20,774 1,110 units
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Question Completion:Activities Units Acquired at Cost Units Sold at Retail
Jan. 1 Beg. inventory 285 at $13.40 $3,819
Jan. 10 Sales 250 units $43.40
Mar. 14 Purchase 470 units $18.40 8,648
Mar. 15 Sales 400 units $43.40
July 30 Purchase 485 units $23.40 11,349
Oct. 5 Sales 460 units $43.40
Oct. 26 Purchase 185 units $28.40 5,254
Totals 1,425 units $29,070 1,110 units
Required Hemming uses a perpetual inventory system. 1. Determine the costs assigned to ending inventory and to cost of goods sold using FIFO.
You can hire 0, 1, 2, or 3 workers. If you hire 0, you produce $0 of output. If you hire 1 worker, your revenue (total value product) is $30. If you hire 2 workers, your revenue (total value product) is $50. If you hire 3 workers, your revenue (total value product) is $60.
What is the marginal value product of the 3rd worker?
What is the profit-maximizing number of workers to hire when the wage is $15?
Given your answer to the last question, what is the most profits you can make from hiring?
Answers
When marginal revenue equals marginal cost, or when MR = MC, a fully competitive firm will make the decision that will maximize its profits.
How do you determine how many employees you need to hire?
You should be able to create statistical data related to your industry that enables you to quantitatively determine when hiring new employees is necessary. To make this computation simple, divide your annual revenue by your average annual employee count, then multiply the result by 12 months.
How do you figure out how many workers to hire in order to maximize profit?
The change in your company's total cost (TC) caused by hiring an additional employee is known as the marginal resource cost (MRC): MRC = TC/L. Since you can hire as many employees as you like at the going rate, MRC = Wage. An employer should hire the number of employees at which MRP = MRC in order to maximize profits.
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When there is excess supply of a hood in the marketplace, what will the business need to do in order to get rid of the excess?
A. Decrease the price
B. Discontinue the product
C. Nothing
D. Increase the price
Answers
When there is excess supply of a hood in the marketplace, what the business need to do in order to get rid of the excess is: A. Decrease the price .
What is supply?Supply can be defined as the amount of goods that producer or manufacturer produce that is supply to the market or made available for sales in the market.
When there is excess supply of goods and services in the market , the best thing is to decrease the price because by reducing the price of the product consumer that cannot afford the product will buy them or more people will buy the product.
On the other hand if there is excess demand of goods in the market place the best thing to do is to increase the price due to high demand as consumer who desire the product will still buy it despite the increase in price.
Therefore the correct option is A.
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A ___________ is responsible for all debt and is easy to create
Answers
A Sole proprietorship is responsible for all debt and is easy to create.
How liable are Sole proprietorships?Sole proprietorships are the most risky type of business to get involved in because the Sole proprietor will be responsible for all the debts that the business incurs. What this means is that if the business is unable to pay off its debts, the creditors are legally able to go after the assets of the Sole proprietor.
The good thing about Sole proprietorships however, is that they are easy to set up or create. The legal requirements governing them are not as stringent.
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Which of the following, if true, would illustrate why price indexes such as the cspi might overstate inflation in the cost of going to college? check all that apply.
A. As the price of calculators rose, fewer students decided to buy them, opting instead to use the free calculators in their cell phones or on their computers.
B. Professors required each student to buy 15 notebooks, regardless of the price.
C. Energy drinks became increasingly popular on college campuses between 2014 and 2016 due to significant improvements in flavor, but this quality change is hard to measure.
D. A new mobile device for personal computing became available for purchase.
Answers
The price index CSPI overstate inflation, due to increase in cost of living as it is based on fixed basket of goods and services, so the correct answers will be (a), (c) and (d).
The following will illustrate why CSPI might overstate inflation in the cost of going to college. -
As the price of calculators rose, fewer students decided to buy them, opting instead to use the free calculators in their cell phones or on their computers.Energy drinks became increasingly popular on college campuses between 2014 and 2016 due to significant improvements in flavor, but this quality change is hard to measure.A new mobile device for personal computing became available for purchase.Inflation occurs when there is a general price rise in the prices of goods and services that we buy. The reason behind price rise is that the cost of production and other raw material goes up that causes inflation. Due to inflation the consumers normally start demanding less of a good.
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A project is estimated to take 300 hours but can be completed whenever the team has spare time. Three employees will take turns working on the project. The first employee completes one-third of the project. The second completes one-fifth of the work remaining. The third completes one-half of the work remaining. How many hours are left for the fourth employee to complete?
Answers
Answer:
80 hours
Explanation:
Translating the fraction of work done to actual hours completed will make it easier
Total time estimated = 300 hours
First employee completes 1/3 = 1/3 x 300 = 100 hours
Remaining time = 300 - 100 - 200 hours
Second employee completes 1/5th of this remaining time= 1/5 x 200 = 40 hours
Remaining time = 200 - 40 = 160
Third employee completes 1/2 of this remaining time = 1/2 x 160 = 80 hours
Remaining time = 160 - 80 = 80 hours
So the 4th employee will have to complete 80 hours of the project
Check:
100 + 40 + 80 = 220 hours completed by 3 employees
Remaining work = 300 - 220 = 80 hours
19. Explain what happens when "Ripple Effect" happens during a Recession
Answers
The ripple effect is the economics equivalent of the phrase multiplier. In other words, one person's action will influence another person's action.
What exactly happens when the "Ripple Effect" occurs during a recession, please?Imagine a stock market crash or a collapse in the property market. A massive sell-off might occur when it becomes evident that a particular asset's price isn't going to continue to climb. As a result of the ripple effect, the entire stock of that "thing" is essentially devalued, which could cause an economic downturn.
What effect does the ripple have on the economy?The ripple effect is the economics equivalent of the phrase multiplier. In other words, one person's action will influence another person's action. As an illustration, if one person's spending increases, the other person will be able to spend more of their income as a result.
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Which best reveals the theme that joy comes from within? how can you make a person happy against his will
Answers
The detail that shows us that Joy comes from within would be how can you make a person happy against his will?
What is Joy?This is the term that is sued to refer to the inward feelings that a person would have that shows that they are in a state of great happiness. This is a positive feeling.
The summary of the excerpt that we have here is telling us about the narrator who is talking about the visitors that he had received. According to him, the visitors did not appear to be very happy since they did not show like people that were enjoying themselves.
The way that this is shown is from the question that the narrator went on to ask. According to him, how was it possible to make a person happy when they did not want to be happy?
Hence we can see that if a person wants to be happy, they would be the ones that would have to make this choice and do all that would have to do with acting towards achieving the feeling of happiness.
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Complete question
Which detail best reveals the theme that joy comes from within?
(24) Everybody, it is true, would not like it, and I had some visitors here a fortnight ago who left after staying about a week and clearly not enjoying themselves. They found it dull, know, but that of course was their own fault, how can you make a person happy against his will?
options :
1. everybody, it is true, would not like it
2. clearly not enjoying themselves
3. they found it dull
4. how can you make a person happy against his will?
List and explain a good customer service example
Answers
Good customer service attributes are
Knowing your goods and personnel Responding quickly to consumer queries and complaintsGoing the extra mile to make clients feel specialThis is further explained below.
What is customer service?Generally, Customer service refers to the support and guidance that a business offers to individuals who purchase or make use of the goods or services that it offers.
Every sector has its own unique standards for customer service, but in the end, a successful service should be measured by its ability to boost earnings.
In conclusion, Ensure that you and your personnel have enough understanding of the things that you provide for sale.
Being ready to answer queries from customers and providing a fast response (even when the feedback is unfavorable).
Going above and beyond what is expected to ensure that the client is satisfied and feels like a valued member of the company
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2). Which is correct, makes sense???!
A) a college professor who lists in the syllabus the exact number of points students need to earn an A, B, C, or D in the class
B) a college professor who makes a point of calling on students who aren't paying attention in class and corrects their answers publicly
C) a college professor who doesn't prepare a syllabus, delays returning student papers, and rarely holds office hours
D) a college professor who waits until students fall below 60% on the midterm exam to offer a review session to prepare for the final exam
Answers
The correct answer is option (A) a college professor who lists in the syllabus the exact number of points students need to earn an A, B, C, or D in the class
What is college professor?In the majority of nations, professors hold academic positions in universities and other post-secondary learning and research organisations. Professor literally translates from Latin as "one who professes." Professors are often leading authorities in their subject and elite educators.
A professor is, in essence, a postsecondary academic lecturer. They instruct college-level students, often in a classroom setting at a university, and are referred to as postsecondary teachers on occasion. Professors are the highest level of instructors and typically have a specialty in one area of study or profession.
Professors frequently engage in original research and impart their expertise through the teaching of undergraduate, graduate, or professional courses. In colleges with graduate programmes, teachers may guide and watch over graduate students working on a thesis or dissertation.
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name and discuss external environment factors that affect managerial decision making in a business setting
Answers
The external environment refers to the elements outside a company that can have an impact on how it operates by influencing its decisions and actions as well as identifying its opportunities and hazards.
What does the outside environment mean? External setting. noun [C, typically single] the external factors that influence a company's operations: The organization's goals must change as the external environment does in order to represent this shifting environment.Institutions, organizations, and forces working outside of the corporation are examples of the external environment.Instances of the outside business environment, Which are:political - New legislation, for instance.economic - Take unemployment and inflation, for instance.sociological - Modifications in style and taste, or an increase in the purchasing power of one group, such as senior citizens.technological: Using automation in industries or being able to sell items online are two examples.Mirshahvelayati and Nazarizadeh (2010) classify the external environment into two categories: the common environment and the work environment (competitors, customers, and technology) (legislation, economic, and socio- cultural).To Learn more About External environment, refer:
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Question 16 of 30 < > View Policies Current Attempt in Progress Sheridan makes child-size backpacks for a total cost of $10 per unit ($6 per unit variable cost and $4 per unit fixed cost) and a unit selling price of $15. The company has been recently contacted by a local nonprofit to make the 580 child-size backpacks for a unit selling price of $10 per unit. Sheridan currently has available capacity to make and sell the 580 units without adding additional production capacity. What should Sheridan do regarding the special order proposal from the local nonprofit and why? -/1 E O Accept the special order since it is being performed for a nonprofit cause, and the $5 loss can be written off as a charitable contribution. O Reject the special order since the company would lose $5 per unit. O Accept the special order since it will increase operating income by $2320 or $4 per unit for 580 units. O Reject the special order since the special-order price is equal to the total cost to make. Save for Later Attempts: 0 of 1 used Submit Answer
Answers
Sheridan should reject the special offer because the special order price is equal to the total cost to make.
What is a non-profit organization?A non-profit organization is described as an organization that does not operate with the intention of earning profit. Instead, the organization works for a cause with dedication, and it can be any social cause.
In this scenario, Sheridan generates $5 by selling every child-sized backpack it makes. It is important to highlight that the variable cost is $6 and the fixed cost is $4. Hence, the $5 profit is essential because Sheridan is not a non-profit company. Sheridan does require a $5 profit on every product to operate sustainably. However, the offer from the non-profit organization does not allow Sheridan to earn any profit on the order of 580 backpacks.
It can be concluded that Sheridan should reject the special offer because the special order price is equal to the total cost to make.
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Type the correct answer in the box. Spell all words correctly.
Identify the marketing positioning in play in the given scenario.
Ted runs a successful cafeteria where he serves pies and coffee. His aim is to serve the world’s best pies that remind his customers of the kind of pies they used to have in their childhood. His thinks of a tagline called “Pies that take you home”.
Ted’s tagline is a , which communicates the brand’s promise to its customers.
Answers
The marketing positioning in play is the tagline. Since Ted thinks of a tagline called “Pies that take you home”. Ted’s tagline is a advert. (brief phrase), which communicates the brand’s promise to its customers.
What is a brand promise tagline?The tagline's image conveys to customers the promise made by the company. When consumers connect with a brand, a brand promise outlines what they can anticipate from it each time.
Note that the tagline is a succinct statement that conveys the values of a company. To leave a lasting impression on customers, businesses utilize taglines in marketing campaigns. Without addressing the goods or services they provide, taglines provide consumers with information about the firm as a whole.
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To what does tax progressivity refer?
Answers
Answer:
Progressive tax refers to the tax structure in which tax rates are based on the level of income.
Question: To what does tax progressivity refer?
Answer: Hello: )So Progressive tax refers to the tax structure in which tax rates are based on the level of income. A progressive tax is directly related to the taxpayer's ability to pay. Every year, we have to pay a fixed portion of our income to the central government in the form of income tax.
Explanation: In a tax progressive system, people who earned higher level of income would be subjected to higher tax percentage compared to people who earned lower level of income. This system is created to ensure that people with low level income could still meet their daily needs after paying their tax.
Have a nice night/day: )
Tea and coffee are some of the agricultural products whose supply can be variable depending on several factors behind the control of the farmer. But, because demand and supply are inelastic, any change in supply can cause a significant change in price.” Discuss why
Answers
In inelastic demand and supply, a change in supply can cause a significant change in price, this is because the capacity in response to changes is low.
What is inelastic demand and supply?It corresponds to an economic concept whose inelasticity is caused by the variation in the quantity supplied or demanded in relation to the price. When there is an inelastic demand or supply, it means that a price change that generates an increase will reduce the quantity demanded.
In inelasticity, the consumer is not sensitive to the quantity purchased in the case of an increase in price, that is, the quantity demanded does not increase or decrease in relation to the price.
Therefore, the elasticity of demand is directly influenced by the increase in prices, as in non-essential products, while in inelasticity, the price does not interfere so much with the quantity demanded.
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Name and explainations of 2 CSR/CSR initiatives that Woolworths carries out
Answers
Woolworths introduced The Good Business Journey in 2007 as a long-term initiative as part of their corporate social investment (CSI) plan. My Village My School Woolworths' educational program, etc.
What are CSR initiatives ?Woolworths is also funding a trial program for nutrition and a WASH (water, sanitation, and hygiene) program.
The program trains community members who volunteer to handle food in the safe and hygienic preparation of nutritious lunches for kids.
According to Schreuder, Woolworths has been successful in providing high-quality goods, convenience, and quick service while rapidly growing, including a growing presence in gas station forecourts.
This demonstrates that, when given the option, people are willing to pay extra for high-quality goods.
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A sound accounting framework allows for all of the following benefits except
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Increased reliability and relevance of financial statements
Uniform comparisons between companies
Identical items being reported on the financial statements of different companies
Consistency in financial reporting across industries
Answers
A sound accounting framework prohibits the reporting of identical items on the financial statements of different companies. The appropriate response is Option C.
What is accounting framework?An accounting framework is a published set of criteria that aid in measuring and recognizing information in a company's financial statements.
To summarize, the accounting framework does not permit identical items to be reported on different companies' financial statements.
A sound accounting system allows for all following benefits except Identical items being reported on the financial statements of different companies.
Hence, Option C is an appropriate response.
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growing pains can arise from implementing a matrix organization due to
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Growing pains arise from implementing matrix organizational structure due to the long lead time of implementation.
Project planning and functional management are two or several of the organization design types that constitute the matrix organizational structure. The matrix structure also includes extra managers who can oversee personnel from several divisions in addition to the traditional management hierarchy wherein personnel are managed by a manager. On a grid or matrix, these two or even more management systems overlap.
Businesses that are required to handle current projects alongside everyday activities may typically employ the matrix organizational structure. It may help a company to keep its departmental organization while projects are underway. Personnel from several departments may also participate in the matrix organizational structure and work together on projects.
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Growing pains can arise from implementing a matrix organization due to--------.
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Year
Pens
Muffins
Price
Quantity
Price
Quantity
(Dollars per pen)
(Number of pens)
(Dollars per muffin)
(Number of muffins)
2008 1 110 2 150
2009 2 155 4 215
2010 3 120 4 180
Use the information from the previous table to fill in the following table.
Year
GDP
Real GDP
(Dollars)
(Base year 2008, dollars)
2008
2009
2010
From 2009 to 2010, GDPdecreased , and real GDPdecreased .
Answers
1. Using the information to fill the following Nominal GDP and Real GDP table is as follows:
Nominal GDP Real GDP
Year (Dollars) (Base year 2008, Dollars)
2008 410 410
2009 1,170 585
2010 840 480
2. From 2009 to 2010, nominal GDP decreased, and real GDP decreased.
What differentiates the nominal GDP from the real GDP?The nominal GDP is based on the current prices and quantities.
The real GDP adjusts the current prices to remove the effects of inflation.
Pens Muffins
Price Quantity Price Quantity
Year (Dollars per pen) (Number of pens) (Dollars per muffin) (Number of
muffins)
2008 1 110 2 150
2009 2 155 4 215
2010 3 120 4 180
Nominal GDP:2008 = $410 ($1 x 110 + $2 x 150)
2009 = $1,170 ($2 x 155 + $4 x 215)
2010 = $840 ($3 x 120 + $4 x 180)
Nominal GDP Real GDP
Year (Dollars) (Base year 2008, Dollars)
2008 410 410 ($1 x 110 + $2 x 150)
2009 1,170 585 ($1 x 155 + $2 x 215)
2010 840 480 ($1 x 120 + $2 x 180)
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