Answer:
$83.4
Explanation:
Under FUTA, only the first $7000 earning per year will be taxed. Any amounts above $7000 will be tax-exempt.
For Michael, the tax will be calculated as follows.
for the$11200 earned in Dawson company
=0.6% x $7000
=0.06/100 x 7000
=0.006 x 7000
=$42
Amount earned working at McBribe
=0.06% x 6900
=0.006 x $6900
=$41.4
Total to be paid by the two companies
=$42 + $ 41.4
=$83.4
Answer:
Thinking on the margin will ensure that each pair of inserts produced is turning a profit. Once a profit is no longer being made on a pair of inserts, production must be cut back. Understanding these margins will also help me stay competitive in a market that is open to other producers. If additional producers enter the market, I know that I have the ability to lower prices or offer discounts while still maximizing profits.
Explanation:
Answer:
Education demand is elastic as compared to salt demand which is highly inelastic.
Explanation:
Elasticity of demand is a measure of the responsiveness of the demand of a good or service relative to it's corresponding change in price. A demand curve can be used to determine the degree of elasticity. A demand curve is a graphical representation of how price varies with quantity of goods and services demanded. The quantity of goods demanded is plotted on the horizontal axis of the graph with the corresponding price plotted on the vertical axis of the graph. With the graph, the elasticity of demand can be calculated. The formula for determining elasticity for demand is;
ED=Q/P
where;
ED=elasticity of demand
Q=percentage change in quantity demanded, where
Q={(Q2-Q1)/Q1}×100
Q2=quantity demanded when price is P2
Q1=quantity demanded when price is P1
P=percentage change in price, where;
P={(P2-P1)/P1}×100
P2=final price
P1=initial price
The formula above can be used to determine the degree of elasticity of a good or service as shown;
If the price elasticity of demand is greater than 1, then the demand is elastic. Meaning the demand is very sensitive to changes in price. This usually happens on goods and services that are wants rather than needs. Wants are luxuries that most people can do without or can find cheaper alternatives while needs are goods that most people can't do without.
If the price elasticity of demand is less than 1, then the good or service is inelastic. Meaning the demand is not very sensitive to changes in price. This usually happens on goods and services that are needs. Needs are goods and services that most people cannot do without.
In our case, salt is a need that most people cannot do without, therefor inelastic. However, quantity of education in private universities is highly elastic since there are many alternatives like public universities that are much cheaper compared to private universities. So a change in price will affect the quantity of demand.
Answer:
x = $16,078.46
Explanation:
$100,000 = 1.0101x + 1.0204x + 1.0309x + 1.0417x + 1.0526x + 1.0638x
$100,000 = 6.2195x
x = $100,000 / 6.2195 = $16,078.46
month investment value at end of month 6
1 $16,078.46 $17,104.74
2 $16,078.46 $16,924.68
3 $16,078.46 $16,748.39
4 $16,078.46 $16,575.73
5 $16,078.46 $16,406.59
6 $16,078.46 $16,240.87
total $96,470.76 $100,001*
*the extra $1 is due to rounding errors.
Answer:
Coca Cola dominant strategy is strategy 1.
Explanation:
Dominant strategy is one in which the business adopts such a strategy which benefits it most among all other available alternative strategies. In the given case Coca Cola dominant strategy is strategy 1. This is because Coca Cola will get the highest possible payoff when it selects strategy 1.
