Based on the given information, WILSON TRUCKING COMPANY's Net income equals to $25,500.
What is an Income Statement?It is a financial statement that shows a company's revenues, expenses and profitability over a period of time. It is also known as profit-and-loss statement which shows revenue from selling products or services and expenses used to generate the revenue and manage your business.
WILSON TRUCKING COMPANY
Income Statement
For Year Ended December 31, 2015
Revenues
Trucking fees earned $130,000
Expenses
Depreciation expense—Trucks $23,500
Salaries expense $61,000
Office supplies expense $8,000
Repairs expense—Trucks $12,000
Total expenses $104,500
Net income $25,500
Missing words "The Retained Earnings account balance is $155,000 at December 31, 2014. Prepare the income statement for the year ended December 31, 2015."
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a is an entity created by law that is separate from its owners. owners are called stockholders or shareholders. these entities can be privately or publicly held. multiple choice question. limited liability partnership sole proprietorship corporation partnership
A corporation, also known as a C corporation, is a legal entity distinct from its owners. Owners are called stockholders or shareholders.
A corporation, also known as a C corporation, is a legal entity distinct from its owners. Corporations can profit, be taxed, and be held legally responsible. Corporations provide the best protection against personal liability for their owners, but they are more expensive to form than other structures. Corporations have many of the same legal rights and responsibilities as individuals. They have the ability to enter into contracts, lend and borrow money, and pay taxes.
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samuel works for a company that provides health care benefits to all its insured employees. however, every time samuel visits a physician, he is required to pay a fixed amount of $20 from his own pocket, whereas the rest of the amount is covered by the medical insurance. the $20 that samuel has to pay is an example of a(n) .
If the rest of the amount is covered by the medical insurance. the $20 that Samuel has to pay is an example of a(n) : deductible.
What is deductible?Deductible can be defined as the way a policy holder with an insurance company is expected to pay some certain amount out of their pocket in which the remaining amount for the insurance coverage is been paid by the insurance company.
The scenario illustrate what is called deductible based on the fact Samuel is expected to pay fixed sum out of his pocket while the remaining sum is covered by the insurance company
Therefore we can conclude that the deductible amount paid by Samuel is the fixed sum of $20.
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mobius, incorporated, has a total debt ratio of .42. a.what is its debt-equity ratio? (do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.)b.what is its equity multiplier? (do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.)
The debt-equity ratio of Mobius is 0.72 times and its equity multiplier is 1 + Debt equity ratio, which is equal to 1.72 times.
The debt-to-equity magnitude relation (D/E) is a financial ratio indicating the relative proportion of shareholders' equity and debt used to finance a company's assets. Closely connected to leveraging, the ratio is additionally famous as risk, gearing, or leverage.
The 2 elements are usually taken from the firm's balance sheet or statement of monetary position (so-called book value), however, the ratio can also be calculated victimization market prices for both, if the company's debt and equity are publicly traded, or employing a combination of value for debt and market value for equity financing. Preferred stock can be thought about as a part of debt or equity. Attributing preferred stock to at least one or the opposite is partly a subjective call but also will take into account the precise options of the well-liked shares.
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costco, a popular retail chain in north america, recently opened three new stores in sacramento to cater to its customers. this exemplifies growth strategy
The fact that Costco opened three new stores to serve its customers exemplifies the growth strategy.
What is the growth strategy?It corresponds to an organizational plan that defines courses of action with the objective of reaching new markets and consumers. Some growth strategies are related to increasing market share, increasing investments and including benefits in the goods offered.
Therefore, a growth strategy when well implemented helps a company to create more value for the consumer, attracting and retaining them, in addition to becoming more competitive and positioned in the market.
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if during the year the portfolio manager sells all of the holdings of stock d and replaces it with 150,000 shares of stock e at $30 per share and 150,000 shares of stock f at $40 per share, what is the portfolio turnover rate? (round your answer to 2 decimal places.)
The rate at which portfolio managers buy and sell assets in a fund is known as the portfolio turnover ratio then the portfolio turnover rate is 30.10%.
What is meant by portfolio turnover rate?The rate at which portfolio managers buy and sell assets in a fund is known as the portfolio turnover ratio. The portfolio turnover ratio, then, is the percentage change in a fund's assets over a 12-month period.
According to the scenario, the given data exists as follows:
Stock A price = $30
Value of stock A = $30 × 210,000 = $6,300,000
Stock B price = $35
Value of stock B = $35 × 310,000 = $10,850,000
Stock C price = $10
Value of stock C = $10 × 410,000 = $4,100,000
Stock D price = $15
Value of stock D = $15 × 610,000 = $9,150,000
We can estimate the portfolio turnover rate by utilizing the following formula:
Portfolio turnover rate = Value of stocks sold or purchased / Market Value of Assets
Where, Market Value of Assets = Value of stock A + Value of stock B + Value of stock C + Value of stock D
= $6,300,000 + $10,850,000 + $4,100,000 + $9,150,000
= $30,400,000
Value of stock sold = value of stock D = $9,150,000
By putting the following values in the formula:
Turnover Rate = 9,150,000 / 30,400,000
= 30.10%
Therefore, the portfolio turnover rate is 30.10%.
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I need the answer to the question below
Answer:
Explanation:
In case a cadbury's chocolate as cadbury owns the 80 percent of the market.
In case b water as water is daily need and cost of making is low and selling is high
in case c ciggrates are more elastic as for now ciggrates are addiction for large number of people.
In case d computer is used in day to day life and its easy to carry information rather than notepad
case e heating oil in one week as massaging body per week in required
case f bread is cheap as per caviar so large number of people can have in every case
if $2000 is invested at an interest rate of 2.5% per year, compounded daily, find the value of the investment after the given number of years. (round your answers to the nearest cent.)
The value of the investment after the given number of years.
P = $2000
r = 2.5% = 0.025
n = 365 [Compounded daily]
a) t = 3 years
Therefore,
Value of the investment
= P (1 + (r/n))nt
= $2000(1 + (0.025 / 365))365 * 3
= $2000(1 + (0.025 / 365))1095
= $2155.76
b) t = 4 years
Therefore,
Value of the investment
= P (1 + (r/n))nt
= $2000(1 + (0.025 / 365))365 * 4
= $2000(1 + (0.025 / 365))1460
= $2210.33
c) t = 12 years
Therefore,
Value of the investment
= P (1 + (r/n))nt
= $2000(1 + (0.025 / 365))365 * 12
= $2000(1 + (0.025 / 365))4380
= $2699.69
To calculate each day compounding hobby, divide the once-a-year hobby fee with the aid of using 365 to calculate each day fee. Add 1 and lift the end result to the quantity of days hobby accrues. Subtract 1 from the end result and multiply with the aid of using the preliminary stability to calculate the hobby earned.
Assume that the $1,000 withinside the financial savings account withinside the preceding instance consists of a fee of 6% hobby compounded each day. This quantities to a each day hobby fee of: 6% ÷ 365 = 0.0164384%
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The media is vital to public relations personnel because
A. they also provide spin and press releases just like the public relations department.
B. they provide an outlet for the public relations department to release their statements. CORRECT ANSWER
C. they must help an athlete or organization with damage control.
D. they would rather create controversy and gain more viewers than perform damage control.
The media is vital to public relations personnel because they provide an outlet for the public relations department to release their statements. Hence, option B is correct.
What is a public relations department?The public relations division of a company monitors and assesses public impressions and promotes goodwill and mutual understanding with the public. It improves communication channels and offers novel ideas for creating a two-way flow of information and understanding.
Public relations is "a strategic communication process that builds ties between organizations and their publics that are mutually profitable," according to the Public Relations Society of America. In essence, public relations specialists take care of a business's reputation and public perception.
Thus, option B is correct.
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. the code of ethics protects: a. the buying and selling public. b. only realtors®. c. the real estate licensing authorities. d. real estate association executives.
The code of ethics protects only realtors.
Realtors facilitate real estate transactions for clients buying and selling homes. They operate on a commission model. In other words, you get a percentage of the sale price of the property.
Therefore, the terms ``real estate agent'' and ``property seller'' are almost synonymous. basically the same meaning. Realtors Once approved as a seller, you can represent clients in real estate transactions and work as a commission-earning real estate agent.
This is a procedural tool that allows a private uninjured prosecutor to contact the Attorney General to seek approval or an injunction to initiate declaratory judgment or injunctive relief on behalf of the Attorney General.
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assume the economy in the united states has a break-even point of $4,500 billion. businesses plan to invest $78 billion. government purchases $864 worth of goods and services. exports are $458 billion. imports are $432 billion and net exports is $26 billion. for every one dollar change in disposable income, households spend 75 cents. the labor force in this economy is 154,432,000. the population is 265,752,000. 9,765,000 people are not working but actively seeking work. 1. what is the mpc in this economy? 2. what is the multiplier in this economy? 3. what is the equilibrium gdp in this economy? 4. what is the gdp gap in this economy if the nru is 5%? 5. by how much should government increase (or reduce) spending to close the gdp gap?
Now The government should increase spending by 157/4 = 39.25 Billion $ to reach the equilibrium GDP level
What is GDP?
GDP is the total monetary or market worth of all finished goods and services produced inside a country's borders in a certain time period. It serves as a comprehensive assessment of a country's economic health because it is a wide measure of entire domestic production.
GDP is normally estimated on an annual basis, although it is also calculated on a quarterly basis. In the United States, for example, the government publishes an annualised GDP estimate for each financial quarter as well as for the entire calendar year. Because the data in this report is presented in actual terms, it has been adjusted for price fluctuations and is thus net of inflation.
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What term is used to describe the process of eliminating a dimension of a data cube, such as might be done when summarzing product sales by quarter into total annual sales?.
The term that used to describe the process of eliminating a dimension of a data cube, such as might be done when summarizing product sales by quarter into total annual sales is data reduction.
Data reduction can be described as a process of reducing the amount of capacity required to store data. Data reduction can reduce costs and increase storage efficiency. Storage vendors will often describe storage capacity in terms of effective capacity and raw capacity, which refers to data after the reduction. here are at least four types of Non-Parametric data reduction techniques, such as:
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The demand and salary for a particular career
A. vary in different parts of the country
B. are the same for the entire world
C. are the same in every part of the country
D. depend on how much education you have
A) vary in different parts of the country
the purpose of the statement of cost of goods manufactured is to select one: a. calculate the cost of goods transferred to finished goods inventory during the period. b. calculate cost of goods sold. c. calculate net income. d. both a and b.
When the statement of cost of goods manufactured is made, it is to calculate the cost of goods sold and of finished goods inventory so the answer is d. both a and b.
What is the statement of cost of goods manufactured?The statement of cost of goods manufactured is used to show the cost that a company incurred in order to be able to produce the goods that it is selling to the consumer.
The statement of cost of goods manufactured allows us to see the cost of goods that would be transferred to the finished goods inventory which is then used in the calculation of cost of goods sold.
This means that the statement of cost of goods manufactured is also important in the calculation of cost of goods sold which on its own is important because it allows a company to find out its gross profit. This is done when the cost of goods sold is deducted from the revenue.
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a company has net sales of $861,000 and cost of goods sold of $571,000. its net income is $102,900. the company's gross margin and operating expenses, respectively, are:
A company with net sales of $861,000, COGS of $571,000, and net income $102,900 will have gross margin 33.7% and operating expenses $187,100.
Revenue is the amount of money generated from sales.
The net sales of the company is $861,000. This is the revenue.
From the revenue, we can calculate the gross profit:
Gross profit = Revenue - COGS
Where:
COGS = Cost of goods sold
Substitute COGS = $571,000 and revenue = $861,000 into the formula:
Gross profit = $861,000 - $571,000 = $290,000
Gross margin = gross profit / revenue
Gross margin = $290,000 / $861,000 = 0.337 = 33.7%
Net income = Gross profit - Operating expenses
$102,900 = $290,000 - Operating expenses
Operating expenses = $290,000 - $102,900 = $187,100
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blake is in the process of buying a new car. he is highly involved in the purchase and perceives significant differences among his three favorite models. blake's next step is most likely to be
Based on the fact that Blake has perceived significant differences between the models, the next step in buying is most likely evaluation of alternatives.
What is the next step in purchasing?Blake wants to buy a car and already knows that there are significant differences between the models of cars that he wants to buy.
This means that his next step would then be to evaluate those cars based on those significant differences that they have, and his preferences.
Options for this question include:
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The lowest payment does not necessarily mean the best credit plan. If your car loan is a long period of time, you may end up owing more than the car is worth, which is called.
That's called “negative equity, also considered as the “upside down” or “underwater” on a loan — which means to owe more on a vehicle than its actual worth.
Negative equity is when your goods become worth less than the remaining value of your mortgage. To be in it, the value must be less than the amount you still owe on your mortgage.
A spinning line of credit is a course of action between a person and a bank to borrow a loan on a short-term premise to meet brief cash setbacks.
Banks that issue a spinning line of credit ordinarily charge a start expense to begin the credit and set a most extreme for the sum borrowed which is regularly the customer's credit restrain.
Falling local property values and missing the number of payments can cause negative equity. This is a problem that can make selling more difficult. if the negative equity is too much to calculate the Loan-to-Value ratio (LTV).
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As mateo considers how to share information about disaster preparedness with his audience of mostly people aged 65 and older, he needs to think about what kind of devices they use and how they consume information to help him decide on what? question 2 options: what color his logo should be what language the communications should be in if he should include information on hurricanes what type of media to use
Native American language should be used. Mateo should mail or newspaper to convince.
What is disaster preparedness?In order to better respond to and deal with the immediate aftermath of a disaster, whether it is caused by natural hazards or is human-induced, governments, organizations, communities, or individuals can take a number of precautions in advance.
What is importance of disaster preparedness?The dread, worry, and losses that come with disasters can be lessened by being prepared. Everybody in a community should be aware of what to do in the event of a fire and where to go for shelter during a severe storm.
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gaap and ifrs rules for publicly traded companies blank . multiple select question. require segmented financial data be included in annual reports create problems in reconciling internal and external reports require that the same method be used for both internal and external segment reporting create incentives for companies to use the contribution margin format in segment reporting
The rules by GAAP and IFRS for public companies are such that they:
require segmented financial data be included in annual reports create problems in reconciling internal and external reports require that the same method be used for both internal and external segmentWhat do IFRS and GAAP agree on?U.S. GAAP are the accounting rules that apply to public companies in the United States while the International Financial Reporting Standards (IFRS) are meant for more than 166 countries around the world.
Both U.S. GAAP and IFRS agree on several things such as the same method of accounting being used for segments of a company that are both internal, and those that are external.
This is done to fulfil the requirement that the financial data of a company should be given according to the business segment in annual reports. Sadly, this makes it difficult to reconcile the external reports of a company, with its internal reports.
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which one of the following statements is correct? group of answer choices if a partner of a liquidating partnership is unable to pay a capital account deficit, the deficit is absorbed by the other partners in the profit and loss ratio of those partners.
The correct option is A.
The required details about profit and loss are mentioned in the below paragraph.
A profit and loss (P&L) statement is a financial statement that describes the revenues, expenditures, and expenses incurred over a certain time, which is commonly a quarter or fiscal year.
Profit or loss on the net. Add any extra money to your gross profits, then subtract your expenses. This is your net income; a positive net income indicates a profit; a negative net income indicates a loss. Even businesses with large gross earnings might incur losses if their expenses spiral out of control.
a statement that shows how net revenue is converted into net income
This statement will help you decide if you have enough cash to pay your payments and forecast how much cash you'll need in the future to fund your business activities.
Thus, option A is the correct option.
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Which one of the following statements is correct?
A. If a partner of a liquidating partnership is unable to pay a capital account deficit, the deficit is absorbed by the other partners in the profit and loss ratio of those partners.
B. Gains and losses from the sale of noncash assets are divided in the ratio of the partners' capital account balances if there is no income-sharing plan in the partnership contract.
C. A loan receivable from a partner is added to the partner's capital account balance in the preparation of a cash distribution plan.
D. Partners may not receive any cash before partnership creditors receive cash when liquidating a partnership.
E. All cash payments to partners are made using their profit and loss ratio when liquidating the partnership.
(COMPLETE QUESTION)
when henry receives the rfp issued by one of his customers, he notices that the company has changed its specifications since it placed a previous order with him. his company's products do not meet the new specifications. in this situation, being the current vendor
As Gregor receives the RFP but notices that the company has changed its specification which means the company's products do not meet the new specifications. In this situation, being the current vendor will probably not be an advantage in getting the new order.
What is the meaning of RFP?Basically, a RFP means a request for proposal; it is a business document that announces a project, does describes and solicits bids from a qualified contractors to complete it. It is also used as the project announcement that is posted publicly by an organization indicating that bids for contractors to complete the project are sought.
Whichever way, its helps to define the project for the company that issues it as well as the companies that respond to it, as well, as the project's goals and the organization that is sponsoring it and outlines the bidding process and contract terms.
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real gdp is more accurate than nominal gdp in making comparisons of output over time because: a) nominal gdp can increase simply because of price increases over time. b) real gdp is not affected by output changes. c) nominal gdp is the hypothetical output that would be produced at full employment. d) real gdp is not affected by changes in productivity or the size of the labor force.
Option (a) nominal GDP can increase simply because of price increases over time is correct.
Real GDP is more accurate than the nominal GDP in making comparisons of output over time because nominal GDP can increase simply because of price increases over time.
What is nominal GDP?Gross domestic product (GDP) that has not been adjusted for inflation is defined as GDP expressed in current prices. The values of all the commodities and services produced during the current reporting period are expressed to obtain current price estimates of GDP.Real GDP corrects the data by fixing the value of the currency, removing any distortion brought on by inflation or deflation.The quantity output for the current year is multiplied by the current market price to get the nominal GDP.Nominal GDP measures broad changes in the worth of an economy over time since it takes current market prices into account without taking inflation or deflation into account. Real GDP is more accurate when determining a country's economic health because it takes inflation into account and takes into account the total increase in price levels.Learn more about nominal GDP here:
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in may 2019, texas reported a civilian labor force of 14,012,711. the number of employed people was 13,516,387. what was the unemployment rate?
The unemployment rate is 3.5 %.
What is unemployment ?According to the OECD, the unemployed are people over a certain age who are not in gainful employment or self-employed but who are currently working during the reference period. The unemployment rate is measured by the unemployment rate. The unemployment rate is the number of unemployed people expressed as a percentage of the labor force. Unemployment, the condition of a person who is able to work and is actively looking for work but is unable to find one.It is important to note that in order to be considered unemployed, a person must be an active member of the workforce and seeking gainful employment. These include recessions, recessions, technological improvements, job outsourcing, and voluntarily leaving a job to find another job. Unemployment mainly has three types of him. Cyclical unemployment, structural unemployment, and frictional unemployment.To learn more about unemployment from the given link :
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according to the authors of the 2018 annual global risks perception survey (grps), which of these considers the systemic dynamics within the organization itself?
Structural resilience considers the systemic dynamics within the organization itself. The ability of buildings and systemic dynamics to quickly resume normal use after a shock incidence or event is known as structural resilience.
Adopting all related components of avoidance, decrease, or removal of recognized threats or hazards is crucial for success in this endeavor. Similar to this, community Structural resilience is defined by Bruneau et al. (2003) as the capacity of social units to reduce risks, control the impacts of systemic dynamics when they happen, and carry out recovery tasks to limit social disturbance and lessen the effects of upcoming earthquakes. preparing for potential catastrophic scenarios.
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people tend to buy more expensive wine when a restaurant offers valet parking as opposed to when does not. this is an example of consumers being influenced via .
centralized; dispersed. wine Principal persuasive strategy:
The phrase "central path to persuasion" refers to a process in psychology when a person is persuaded by the "content" of a particular communication.
A sideways path to persuasion The phrase "peripheral route to persuasion" refers to a process in psychology where a person is persuaded by anything other than the "content" of the message.
The provided statement in the aforementioned question illustrates both the central and peripheral paths to persuasion. people tend to buy more expensive wine when a restaurant offers valet parking as opposed to when does not.
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when the loacal grocvery store puts cereal on sale, reducing its prie form 4.40 per item to 3.40 per item, the quanitiy sold increases from 220 per week to 230 per week
The price elasticity of demand is 0.17, which means it is inelastic.
The price elasticity of demand is defined as % change in quantity divided by % change in price.
Formula for:
% change in price = (P2 - P1) / [(P1 + P2)/2] x 100%
% change in quantity = (Q2 - Q1) / [(Q1 + Q2)/2] x 100%
Then,
Price elasticity of demand = % change in quantity / % change in price
Parameters given in the problem:
% change in price = (3.40 - 4.40) / [(3.40 + 4.40)/2] x 100%
= - 25.64%
% change in quantity = (230 - 220) / [(230 + 220)/2] x 100%
= 4.44%
Price elasticity of demand = % change in quantity / % change in price
= 4.44% / (- 25.64%)
= 0.17
Complete question:
When the local grocery store puts cereal on sale, reducing its price from 4.40 per item to 3.40 per item, the quantity sold increases from 220 per week to 230 per week, what is the price elasticity of demand?
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inventory analysis the following data were extracted from the income statement of keever inc.: current year previous year sales $18,500,000 $20,000,000 beginning inventories 940,000 860,000 cost of goods sold 9,270,000 10,800,000 ending inventories 1,120,000 940,000 a. determine for each year (1) the inventory turnover and (2) the number of days' sales in inventory. round interim calculations to the nearest dollar and final answers to one decimal place. assume 365 days a year. current year previous year 1. inventory turnover fill in the blank 1 fill in the blank 2 2. number of days' sales in inventory fill in the blank 3 days fill in the blank 4 days b. the inventory position of the business has . the inventory turnover has , while the number of days' sales in inventory has . the sales volume has faster than the inventory, resulting in a inventory position.
The indication of the inventory ratios of Keever Inc. is as follows:
Current Year Previous Year
1. Inventory turnover 9 times 12 times
2. Number of days' sales in inventory 40.6 times 30.4 times
What does the inventory turnover reveal?The inventory turnover indicates if there are strong sales or if excessive inventory is maintained.
Weak sales or excess inventory is signaled by a low ratio, while a higher ratio signals strong sales or inadequate inventory stocking.
What do the days' sales in inventory reveal?The days' sales in inventory show the duration it takes a company to sell its inventory or how long cash is tied up in inventory.
The days' sales in inventory measure the effectiveness of inventory management by Keever Inc.
Keever Inc.
Income Statements Current Year Previous YearSales $18,500,000 $20,000,000
Beginning inventories 940,000 860,000
Cost of goods sold 9,270,000 10,800,000
Ending inventories 1,120,000 940,000
Average Inventory = (Beginning Inventory + Ending Inventory)/2
= $1,030,000 $900,000
Inventory Turnover = Cost of goods sold/Average Inventory
= $9,270,000/$1,030,000 $10,800,000/$900,000
= 9 times 12 times
Number of days' sales in inventory = Average Inventory/Cost of goods sold x 365 days
OR 365/Inventory Turnover.
= $1,030,000/$9,270,000 x 365 $900,000/$10,800,000 x 365
= 40.6x 30.4x
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all of rolf co.'s employees are entitled to two weeks of paid vacation for each full year in rolf's employ. unused vacation time can be accumulated and carried forward to succeeding years and will be compensated at the salary in effect when the vacation is taken. mary beal started her employment with rolf on january 1, 2019. as of december 31, 2019, when beal's salary was $500 per week, beal had used none of her vacation time. as of december 2019, rolf expects to give its employees 10% raises in july 2020. how much should rolf report as a liability at december 31, 2019, for beal's accumulated vacation time?
At the end of 2019, Rolf must declare $1,000 as a liability for Beal's accrued vacation time.
A liability is an obligation that an individual or organization has, usually one that is financial in nature. Liabilities are eventually addressed through the transfer of economic benefits like money, goods, or services.Debts including loans, accounts payable, mortgages, deferred income, bonds, warranties, and accumulated costs vacation time are represented as liabilities on the balance sheet's right side.Liabilities and assets are comparable concepts. Liabilities are debts or other responsibilities, whereas assets are things you own or owe money to.Current liabilities are a company's short-term financial obligations that are due within a year or during its regular operational cycle (e.g. accounts payable).On the balance sheet, commitments that aren't due for more than a year are referred to as long-term (non-current) liabilities.Learn more about Liabilities, here
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Your job is to cold call people and sell
them life insurance. You do some
research and find out that the life
insurance policy could be purchased
cheaper online. Your boss forbids you
to tell the customer this and expects
you to sign up at least 5 new
customers per day.
What will you do?
I believe I would be cheating customers if I don't do right by them. I would prefer to look for a new job than do something that is ethically wrong and against my morals.
As an employee, I would first try to figure out a way to do right by the customers and reduce the insurance fee. I would try to explain to my boss how we could benefit and increase our customer base if we reduce the fees.
If I fail at getting the price change. I would try looking for a new job that fits well with my morals. Till the time I get a new job, I would try working the same job and explaining to the boss.
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You have money in your wallet, but are not certain how much. When your friend asks you how much you have, you say that you have $35 plus or minus $10. Which equation could be used to determine the range of money you have in your wallet?.
The range of money you have can be expressed using inequality 25 ≤ x ≤ 45.
To express the range, the inequality is used. There are 5 signs of inequality.
≠ is not equal to
< is less than
≤ is less than or equal to
> is greater than
≥ is greater than or equal to
First, we need to translate the given word problem into an algebraic expression.
The money is $35 plus or minus $10.
The minimum value is: $35 - $10 = $25
The maximum value is: $35 + $10 = $45
Note that the end point is included in the range, hence we will use ≤ and the equation for the range is:
25 ≤ x ≤ 45
Where x is the amount of money in your wallet.
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if the government imposes an excise tax in a market in which the demand curve is perfectly inelastic, the burden of the tax will fall completely on the and the deadweight loss will equal .
If the government imposes an excise tax in a market in which the demand curve is perfectly inelastic, the burden of the tax will fall completely on consumers and the deadweight loss will equal zero.
The deadweight loss depends on both the inelasticity of supply and demand. If either of them is perfectly inelastic, the deadweight loss will become zero.
The burden of tax can fall on consumers or on producers depending on which curve is more inelastic. If the demand curve is more inelastic, the tax burden will far more on the consumer. In the given case, the demand curve is perfectly in elastic, so the entire burden of the tax will fall on the consumer.
However, if the supply curve is more inelastic, the tax burden will fall more on the producer.
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