Which of the following is true regarding the price elasticity of demand?
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a
Demand is generally more elastic in the long run than in the short run.

b
Along a single demand curve, demand elasticity decreases as you move down the curve (to lower prices).

c
A demand curve that is flatter is relatively more elastic than a demand curve that has a steeper slope.

d
All of the above

The federal tax code is not used by the Federal Reserve to change the money supply.

Taxes are compulsory payments made by a government organization, whether local, regional, or federal, to people or businesses. Tax revenues are used to fund a variety of government initiatives, such as Social Security and Medicare as well as public infrastructure and services like roads and schools.

A tax is a monetary fee that a nation's central or state governments levy on its population to fund economic development. Depending on how they are paid to the authorities, taxes can be classified as either direct or indirect. Direct taxes include, amongst many others, income taxes, corporate taxes, and capital gains taxes.

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Businesses that pick cherries may close as a result of the changing cherry industry, and the resources they used may be repurposed by businesses entering new industries.

What are a few examples of economy?

A well-known example of an economy is the that has, which employs a nation's customs and history to guide the manufacturing and distribution of goods. A traditional economy's three primary pillars are agriculture, fishing, and hunting.

What instances from the world of business?

The study of resource scarcity is a key component of economic social science. It investigates factors that affect the production, distribution, and consumption of goods and services within an economy. It looks into how scarce resources are allocated among individuals, groups, and governments.

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Day-to-day trading practices of securities firms currently may be regulated by only I.

Trading entails active participation in the financial markets as opposed to investment, which takes a buy-and-hold strategy. The primary difference between an investor and a trader is how long they hold onto an asset. Buying and selling equity on the short-term for an institution or for one's own gain is what is known as trading. You can become wealthy through stock trading or day trading, and there are many examples of successful day traders, but doing so requires a thorough understanding of the market, in-depth knowledge of principles, as well as your psychology and the ability to control your emotions. The disadvantages of trading. A requirement for success in trading is the capacity of a trader to be profitable over the long run.

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According to Michael Porter, industry attractiveness can be identified based on the five forces that include competitors, new entrants, suppliers, customers and substitutes.

For instance, $1 banknotes can be substituted for other $1 bills. Furthermore, butter produced by two different companies is also regarded as an ideal counterpart since, although coming from two different companies, both kinds of butter perform the same duties.

When something is said to be incompatible with another, it is implied that it lacks some desirable characteristics that the other object possesses, making it undesirable. When you say something cannot be replaced, you're saying it's the only choice that can fully satisfy your needs.

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In the first Financial plan, establishing short-, medium- and long-term financial goals.

Explain in detail.

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BEP 340 units or $193,800 of sales Income Statement: Sales revenue  340 units x $570( 193,800) , Variable Cost  340 units x $456  (155,040), Contribution (38,760‬), Fixed cost (38,760), Operating income is 0.

To calculate the break-even point in units, use the formula below: In sales dollars, the break-even point is calculated as follows: Break-Even Point (in Units) = Fixed Costs (Sales Price Per Unit - Variable Cost Per Unit). Break-Even Point = Contribution Margin - Fixed Costs (in sales dollars).

The term "break-even point" (BEP) in accounting refers to the situation where a company's revenues and expenses were equal for a specific accounting period. It means the company "broke even," which means there were neither net profits nor losses.

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Hello,

I hope you and your family are doing well!

Answer:  Cindy's earned income credit for 2021 is $845.36 and her dependent care credit is $888.

(See below for the walk-through)! Consider giving this answer 5 stars and brainliest if you find it helpful.

To calculate Cindy's earned income credit and dependent care credit for 2021, we need to know the maximum amount of credit she is eligible for based on her adjusted gross income and the number of dependent children she has.

The maximum earned income credit for 2021 is:

$3,584 for one child

$5,728 for two children

The maximum dependent care credit for 2021 is:

$3,000 for one child

$6,000 for two children

Since Cindy has two dependent children and her adjusted gross income is $20,200, the maximum earned income credit she is eligible for is $5,728 and the maximum dependent care credit she is eligible for is $6,000.

To calculate the actual amount of credit Cindy will receive, we need to know the percentage of her adjusted gross income that she spends on qualified childcare expenses. Since Cindy spends $3,000 on qualified childcare expenses and her adjusted gross income is $20,200, the percentage of her income that she spends on childcare is:

$3,000 / $20,200 = 0.148

The earned income credit and dependent care credit are both calculated as a percentage of the maximum credit, with the percentage equal to the percentage of adjusted gross income spent on qualified childcare expenses.

Therefore, Cindy's earned income credit is:

$5,728 * 0.148 = $845.36

And her dependent care credit is:

$6,000 * 0.148 = $888

Happy Holidays!

Input substitute is the change in the quantity of labor demanded resulting from a change in the relative cost of labor is known as the effect.

A common strategy for addressing the impact of a change in the mix of inputs used for production from a technical or financial perspective is to employ the elasticities of substitution between inputs. The majority of estimating techniques estimate these elasticities using parametric production, cost, or frontier functions. Flexible inputs are those that can be replaced with or by other inputs during the manufacturing process (such as fishing harvesting). The degree of substitutability increases with input flexibility. The relationship between the change in the ratio of factors utilized in a production process and a specific change in the factor price ratio is known as the elasticity of substitution between factors in production.

A concept of such an elasticity that links changes in overall factor endowments to the consequent change is called an aggregate idea.

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Auditor methods for understanding internal control over accounts payable include using a questionnaire, conducting a walk-through, and creating a flowchart.

How is it the auditor's responsibility to comprehend the internal control?

By carrying out procedures to comprehend the design of controls relevant to an audit of financial statements and determining whether they have been put into operation, the auditor should acquire an understanding of internal control sufficient to plan the audit.

What steps are taken to learn more about internal control?

The processes and methods that auditors use to obtain sufficient and appropriate audit evidence to render their professional judgment regarding an organization's internal controls' effectiveness are known as audit procedures.

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Full Question = Identify which of the following tasks auditors use to obtain an understanding of internal control over accounts payable. (Select all that apply)

a. make a fictitious purchase

b. review all invoices and supporting documentation

c. use a questionnaire

d. perform a walk-through

e. prepare a flowchart

The Nash equilibrium of the game is $8000 , $6000 (Dresses , shirts). The player 1 chooses dresses & the player 2 chooses shirts .

The most popular technique to determine the outcome of a non-cooperative game involving two or more participants in game theory is the Nash equilibrium, which bears the name of the mathematician John Nash. In a Nash equilibrium, each player is supposed to be aware of the equilibrium strategies of the other players, and changing one's own strategy offers no advantages. The concept of Nash equilibrium has been around since Cournot used it to explain how rival enterprises choose their outputs in 1838.

To solve the question :

Step 1

Player 1 always picks dresses because he has a dominant strategy for them throughout the game. Player 2 has two choices if Player 1 picks dresses. He has the option of receiving $5000 for pants or $6000 for shirts.

He will therefore choose the shirt because it offers a better return. Therefore, the Nash equilibrium will include dresses, shirts, player 1 getting paid $8000, and player 2 getting paid $6000.

Coats and pants would be the strategies if dry cleaners collude.

The downtown cleaners will have the incentive to switch their strategy to dresses .

Step 2

Coats and pants will be the plan if the dry cleaners collude.

As a result, the uptown cleaners will receive a bigger payoff than the Nash equilibrium while the cleaners in the downtown will receive the same payoff as the Nash equilibrium.

Downtown cleaners will be encouraged to switch to dresses since they will benefit more financially from doing so. By upgrading to dresses, they may increase their present strategy's $8000 profit to $9000.

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The complete question is mentioned below :

Two dry cleaners are considering what special offer to do this week. their payoff's in the form of profits are given in the game matrix below.

What is Nash Equilibrium?

O {$8,000 ; $6,000}

O This game has multiple NE

O ($9,000 ; $5,000}

O ($8,000 ; $7,000}

O (dresses; shirts)

O (dresses; pants)

O {$6,000 ; $5,000}

O (coats ; pants)

O (coats ; shirts)

O This game has no NE

If the dry cleaners collude, the strategies would be

O (dresses ; shirts)

O (coats; pants)

O (dresses ; pants)

O (coats ; shirts)

However, even if collusion wasn't illegal, this outcome is not an equilibrium because Downtown Cleaners would have the incentive to switch their strategy to

O coats

O dresses

Unsystematic(OPTION C).one of the following is the type of risk that only affects either a single firm or just a small number of firms. Unsystematic risk is also referred to as specific risk, which refers to threats particular to a given business or sector.

These dangers sector, however, do not simply affect one company at a time. For instance, the stock price of a single company can be specifically at risk due to a bad manager. Unsystematic risk is the possibility that a danger at the corporate or industry level will lead to a catastrophic collapse. The risk that the entire market carries, which can be attributed to a variety of economic, sociopolitical, and market-related events, is known as systematic risk.

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Answer:

a. The reinsurance contract between SIC and Ghana Re is a proportional reinsurance contract. This type of contract specifies that the reinsurer (Ghana Re) will share a fixed proportion of the premiums and losses with the ceding company (SIC). In this case, the contract specifies that Ghana Re will pay 70 percent of the losses and receive 70 percent of the premiums, while SIC will pay 30 percent of the losses and retain 30 percent of the premiums.

b. If a ¢100 million covered loss occurs, SIC will be responsible for ¢30 million of the loss, while Ghana Re will be responsible for ¢70 million of the loss. This is because the contract specifies that SIC will pay 30 percent of the losses, and Ghana Re will pay 70 percent of the losses. In terms of premiums, SIC will retain ¢60 million of the premium, while Ghana Re will receive ¢140 million of the premium, less the ceding commission that is paid to SIC.

If household income tax increases by 80%, if household income increases by 100%.  It is progressive tax system which is based on theory that higher income level, higher tax rate, and that high-income earners can afford to pay more.

A progressive tax is based on the concept of ability to pay, with a higher proportion of income coming from high-income groups than low-income groups. For example, a progressive tax system could impose a tax rate of 10% on low-income taxpayers, 15% on middle-income taxpayers, and 30% on high-income taxpayers.

On the plus side, a progressive tax system eases the tax burden for those who can't afford to pay. This leaves more money in the pockets of low-income people who are more likely to spend more on basic necessities, thereby stimulating the economy.

In the United States, the federal income tax is a progressive tax. Tax rates are tiered from 10% to 37%. In 2022, if you are single and have taxable income of $15,000, your tax rate will be 12%, and if you are single and have taxable income of $600,000, your tax rate will be 37%.

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When adjusting a shareholder's adjusted basis in S corporation stock, the following should be taken into account in the right order:

What is Stock?

⇒ Stock, also referred to as capital stock, is the term used to describe all of the shares that make up a corporation's or company's ownership in the financial industry. Each share of stock represents a relatively tiny percentage of ownership in the company based on the total number of shares. After paying off all senior claims, such as secured and unsecured debt, the shareholder (stockholder) will then typically be entitled to that portion of the company's earnings, proceeds from the selling of a company's assets, or the distribution of voting rights, which are often distributed based on the amount of money invested by each stakeholder. Not all shares of stock are created equal; some classes may have been issued with enhanced voting rights, without voting rights, or with a particular priority to receive profits.Any other groups of shareholders are paid out either before or after the liquidation.

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The term "Impressionism" refers to a painting movement that originated in France in the middle to late 19th century.

Characteristics of the movement include unblended color, an emphasis on the accurate representation of natural light, and small, visible brushstrokes that offer the bare impression of form. Impressionists rejected traditional subjects and embraced modernity in their quest to produce art that accurately captured their time. What connected them was an emphasis on how color could describe a moment in time rather than black lines.

The Impressionist movement was named after Claude Monet's 1874 painting Impression, Sunrise (Musée Marmottan Monet, Paris), which the critic Louis Leroy claimed was only an "impression" and not a full work of art.

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After dissolution, partners still have the authority to pay the debts of the partnership of the following actions on behalf of the partnership.

A partnership is a legal agreement between two or more people to manage and run a business and share profits. There are several forms of partnership agreements. In a partnership business, for example, all partners share liabilities and profits equally, whereas, in others, partners may have limited liability. There is also the "silent partner," who is not involved in the day-to-day operations of the business. A general partnership is made up of two or more proprietors who work together to operate a firm. In this arrangement, each partner has equal representation of the firm. All partners have the right to govern the firm and can participate in management operations and decision making. Profits, debts, and obligations are also equitably shared and split.

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The overall demand for final products and services in an economy at a certain time is known in macroeconomics as aggregate demand, sometimes known as a domestic final demand.

Effective demand is a common name for it, however other times this term is used to make a distinction. This is a country's demand for its gross domestic output. The total of consumption, investment, government purchases, and net exports at each price level in every period is represented by the aggregate demand curve. Due to the wealth effect on consumption, the interest rate effect on investment, and the impact of global commerce on net exports, it slopes downward.

As the components of aggregate demand—consumption spending, investment expenditure, government spending, and spending on exports minus imports—increase, the aggregate demand curve, or AD curve, moves to the right.

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In the U.S., although the number of dairy cows has declined since 1960, production has increased because yield per cow has tripled.

The statement is true.

Give brief about the production in business.

Production is the process of mixing multiple inputs, both immaterial (such as plans or information) and material (such as metal, wood, glass, or polymers). In a perfect world, this output would be a product or service that is useful to others and has value. Production theory is the branch of economics that concentrates on production; it is closely connected to the consumption (or consumer) theory of economics.

Four Production Factors (Jiang, 2020)

Utilizing the initial inputs productively leads to the manufacturing process and outcome (or factors of production). Land, labour, and capital are regarded as the three major production components and are referred to as primary producer commodities or services. The output procedure does not appreciably change these fundamental inputs,

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Contractionary monetary policy occurs when a central bank acts to decrease the money supply in an effort to control an economy that is expanding too quickly.

What is Contractionary monetary policy?

An expansionary monetary policy, also referred to as a loose monetary policy, lowers interest rates and encourages borrowing. Contrarily, a contractionary or restrictive monetary policy is one that increases interest rates while lowering economic borrowing.

The Fed offers these Treasurys for sale to the member banks in order to carry out a contractionary policy. The bank's credit on its records is decreased because it must pay the Fed for the Treasurys. Banks are consequently less able to lend money. They impose a higher interest rate since they have less money to lend.

In order to prevent inflation, contractionary monetary policy attempts to reduce economic growth or even cause the economy to contract.

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Lack of trust in online sellers is one of the most frequently cited reasons that some consumers are not willing to purchase online. The given statement is True.

What do you know about Online Sellers?

Online sellers are responsible for a variety of tasks. They take pictures of the items and write descriptions for them. They will sell the information and post it online. They compute total purchase amounts, taxes, and fees and shipping fees; accept payments; and send out orders. They also interact with customers to provide answers or solve problems. Many online sellers devote a significant amount of time to their businesses.

promoting their products, either online or offline— via social media, email, and newsletters, advertisements, blogs, or in their neighbourhoods Ann, for example, conducts workshops and speaks in classrooms.

So, the given statement is True.

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In addition to place, promotion, and product, marketing managers also must make major strategic decisions about 3. price.

Promotion refers to a variety of actions supposed to elevate more consciousness or development of an item. In phrases of a profession, promoting refers to advancing a worker's rank or position in a hierarchical structure.

A promoting is whilst an employee advances to a function that is categorized at a better earnings grade, or in sure situations, an acknowledgment of big more obligations within the equal grade.

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The deadweight loss is going to have to happen when  the tax on airline tickets increase from $20 per ticket to $60 per ticket. Option D.

The loss of overall welfare or the social surplus as a result of factors such as taxes or subsidies, price ceilings or floors, externalities, and monopoly pricing is known as "deadweight loss."

The cost of market inefficiency, which happens when supply and demand are out of balance, is known as a deadweight loss. Deadweight loss, a term mostly used in economics, refers to any deficit brought on by an ineffective resource allocation.

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European consumers buying United States goods, is most likely to benefit from an appreciation in the United States dollar in the short run.

When bought and sold on the international market, food and energy are frequently priced in dollars. Likewise, much of the debt due to developing countries. The International Monetary Fund conducted research that found that, whether or not the United States is involved, almost 40% of global transactions are conducted in dollars.

Because the US economy is stronger than the economies of many other nations and because the Federal Reserve keeps hiking interest rates of dollar is strong. Stocks of US companies that conduct business abroad suffer from a strong currency, but those of US exporters may benefit. The strong dollar fuels global inflationary pressures.

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A circumstance team member engaging in social loafing when performance is evaluated for the individuals, not the group

Generally, The psychological phenomenon known as social loafing is the perception that members of a team would perform less work when they are in a group environment.

According to the theory of the social loafing effect, when people are evaluated as part of a group, they do not pull their own weight socially.

In the field of social psychology, the phenomenon known as "social loafing" refers to the tendency of individuals to put forth less effort to accomplish a task when they are part of a group as opposed to when they are working alone.

It is considered to be one of the primary reasons why the combined performance of the members of a group functioning as individuals is sometimes less productive than the performance of the group as a whole.

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Raul Menendez, the CEO of Top Auto, has decided to implement additional outsourcing. To implement the added outsourcing, Mr. Menendez could implementing the strategy.

Outsourcing is a contract in which one company contracts another company to handle a planned or ongoing operation that is being or might be handled internally. It occasionally entails the transfer of assets and people from one company to another.

Management of human resources, facilities, supply chains, accounting, customer service and support, marketing, computer-aided design, research, content creation, engineering, diagnostic services, and legal paperwork are a few common outsourcing operations.

The practice of employing a third party from outside a business to carry out tasks or produce commodities that were previously completed in-house by the business's own employees and personnel is known as outsourcing. Companies typically engage in outsourcing as a cost-cutting strategy.

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The term "treasury stock," also referred to as "treasury shares" or "reacquired stock," refers to previously outstanding stock that has been repurchased by the issuing company from its stockholders.

As a result, there are fewer shares available for purchase on the open market. Depository stock remaining parts gave yet is excluded from the conveyance of profits or the computation of income per share (EPS).

A credit to the common stock and the additional paid-in capital (APIC) accounts is used to add to the equity section of the balance sheet when a company first issues stock. The APIC account shows the amount received above the par value, while the common stock account shows the shares' par value. This journal entry's offset is a debit to increase the shareholders' consideration in cash (or another asset) as a result of double-entry bookkeeping.

Commonly referred to as "treasury stock" or "equity reduction," Treasury shares reduce total shareholder equity. Treasury stock can be accounted for in one of two ways: the par value method and the cost method. The cost method disregards the par value of the shares and uses the value paid by the company for the repurchase; The cost of the treasury stock is included in the stockholders' equity section of the balance sheet using this approach. Stocks often have a low par value, like $1, but can be sold and bought back for a lot more.

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True , when a monopoly drops the price to sell more units, the revenue received from previously sold units will also decrease.

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Total revenue from the sales would be  p = 330 − 0.2x, p = 330 - 0.2*500 = 330 - 100 = 230.

What is meant by total revenue?

The whole amount of money a seller may make by providing goods or services to customers is known as total revenue. The formula for this is P Q, or the purchase price times the quantity of the products sold.

An indefinitely elastic demand curve is presented to a corporation that is completely competitive. In other words, the market price is the only price at which it may be sold. At any lower price, it could sell the same quantity at the going rate and yet make more money, but at any higher price, nobody would purchase any quantity. The market price multiplied by the amount that the business decides to manufacture and sell equals total revenue.

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Businesses cite several reasons for using polygraphs to detect lying the polygraph allows companies to increase the number of audits. Employers most typically use polygraph testing to look into specific occurrences.

When employees had access to something that was being looked into and there was a good chance that they were involved. Pre-employment (or preclearance) screening, employee screening, and event-specific inquiry are the three main uses of polygraph testing and interviews, as we noted at the beginning of this chapter. The various purposes are reflected in the many types of questions used in polygraph exams. There is no proof that any physiological response pattern is specific to deceit.

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If Sales associates who are paid in a lump sum and who are personally responsible for paying their own taxes are probably treated for tax purposes as: a) employees.

An employee can be defined as the person who work for an employer for a salary and this people tend to have have the interest of the company at mind and they as well involve in the day to day operation of a company business.

An employee is responsible for paying their own taxes as their taxes are often deducted from their salary.

Therefore the correct option is A.

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