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2 years ago

Which of the following is the correct answer to the question: Why do smokers pay almost all the taxes assessed on cigarettes?

Business

1 answer:

Temka [501]2 years ago

4 0

Answer:

The correct answer is option II.

Explanation:

When a tax is imposed on a commodity, the tax burden is shared between the buyers and the sellers. The share of tax burden depends upon the elasticity of demand and elasticity of supply.

In the case of cigarettes, most of the tax burden is borne by the buyers. This is because the demand for cigarettes is relatively inelastic. Cigarettes are addictive so even if its price increases due to the imposition of the tax, the buyers will still purchase the same amount as they are addicted to it.

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Which of the following statements is correct?(A) Normal profits will cause an industry to expand.(B) Economic profits and losses

notka56 [123]

Answer: The correct option in this case is (c). i.e. Economic profits induce firms to enter an industry and losses encourage firms to leave

Economic profits is the difference between total revenues and total costs excluding opportunity cost.

For a instance when a firm generates economy profits then in that scenario it will be profitable to continue and expand .

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2 years ago

The Department may choose to grant an exception to the examination requirement under certain circumstances. Which of the followi

soldier1979 [14.2K]

Available options are:

A salesperson who has held a valid license within the last 3 years

A broker who surrendered his broker license and has been employed as a salesperson since the surrender

A broker associate who had a valid salesperson license five years ago

A broker associate who held a broker associate license two years ago

Answer:

A broker associate who had a valid salesperson license five years ago

Explanation:

The Department may choose to grant an exception to the examination requirement under certain circumstances except "a broker associate who had a valid salesperson license five years ago."

This is because in the United States, for the real estate brokers to renew a license they need to undergo an examination as part of the requirements. However, they may be granted an exception under specific situations such as

1. When they still hold a valid license within the last 3 years

2. When they hold broker associate valid license within the last two years

3. When they are now into salesperson employment.

Hence, considering the available options, the correct answer is "A broker associate who had a valid salesperson license five years ago."

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1 year ago

Going back to the original problem from question 3, Eli Orchid would like to make sure that at most 30% of all batches produced

oksano4ka [1.4K]

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2 years ago

Amy and Jack were loyal customers of GreenFoods, a local grocery store. However, after a couple of incidents where they had to r

ololo11 [35]

Answer: B) Open to Trial

Explanation:

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1 year ago

Joy's Accessories bought 69 necklaces for $ 11 each on account. The payment terms of 3/10, n/30. In addition, 9 necklaces we

madreJ [45]

Answer:

To record the initial purchase, the entries required in Joy's Accessories are:

Debit Purchases Account with 69x$11 - $759

Credit Supplier's Account (Accounts Payable) - $759

Explanation:

The initial purchase is recorded as it was made without taking into account activities that happened after.

Once value had been received, it is recognized immediately. When 9 necklaces are returned before payment, then the entries above would be reduced by 9 x $11 or $99 through Purchases Return Account.

If payment is made within 10 days, Joy's Accessories will be able to take advantage of the 3% cash discount offered by the supplier and then pays the net value. And subsequently, this will be recognized in the books.

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2 years ago