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A: The FAR is a chapter within title 48 of the Code of Federal Regulations - TRUE
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- Which of the following importation is not subject to consumption tax? * Importation of ornamental seashells Importation of bottled drinking water Importation of ingredients used for finished feeds Importation of wood All of the aboveWhen the price is 10 TL for each pack of cookies, the supply is 250 thousand and the demand is 120 thousand boxes.When the price is 9,5 TL for each pack of cookies, the supply is 200 thousand and the demand is 240 thousand boxes. Since the price-demand and supply-demand equations are linear; Find and interpret the market equilibrium point after-tax if the consumer is taxed at a rate of 0,75 TL per product.Price Ceiling of Low-Cost Homes The Malaysian government has implemented a price ceiling on low-cost homes starting from the year 2010. The implementation of this price ceiling is aimed to ensure that people from the lower income group have one of the necessities, which is shelter. The government has set the price ceiling of low-income houses at RM42,000 in Peninsular Malaysia and RM50,400 in Sabah and Sarawak. Furthermore, in conjunction with the 10th Malaysia plan, the government has planned to develop more houses at an affordable price, involving private developers. The target is to have 161,000 affordable homes, of which private developers would build 83,000 units while the rest would be built by the government.Due to the implementation of this price ceiling, the legal maximum price of low-income houses set by the government is lower than the market equilibrium price. This is done in order to protect the interest of consumers by preventing the producers from charging prices that…
- In an economy, a manufacturing company produces 1,000 units of a product at a total cost of $10,000. If the government imposes a tariff of $2 per unit on imported raw materials used in production, and the company is also subject to a corporate tax rate of 15%, calculate the new total cost of production after considering the cost of tariff and taxation. Assume no other costs are affected.Suppose the following demand and supply function of a commodity. 15 Qd = 55 - 5P Qs = -50 + 10P After imposing tax, the new supply function is Qs = -60 + 10P Find out the equilibrium price and quantity before tax.It is generally agreed that excise taxes should be imposed on sellers of tobacco but not on sellers of turnips.
- Suppose that the price of rice is Tk.65 per kg and 75,000 kg of rice is consumed in equilibrium. A percentage tax on rice is imposed which creates an excess burden of Tk.153,563. If the compensated price-elasticity of demand for rice is 0.7, what is the tax rate?MICROECONOMICS In a given market demand and supply behaviour is characterized by the following functions: D^(-1) : P = 328 - 1Q and S : Q = 8P + 25. A new quantity tax 3 is introduces to be paid by the consumers. What is the difference between the original and the resulting equilibrium quantity (using one decimal)?Demonstrate graphically the impact of a rise in electricity prices on the production of ice cream.
- The use of raw materials is an important element of the non-price determinant known as a. technology. b. costs of inputs. c. expectations of future prices. d. taxes and subsidies.The supply and demand functions for maize farmers are given as Qs = - 32 + 10P and Qd = 40 – 2P respectively where Qs is quantity supplied in bags, Qd is quantity demanded in bags and P is the price per bag in Ghana Cedis. (a) Determine the equilibrium price and quantity of maize. (b) As a result of the introduction of a new technology in maize farming, the supply function for maize changes to become Qs = - 20 + 10P. Demand remains unchanged. i. Determine the new equilibrium price and quantity. ii. Derive the supply and demand table for maize before and after the introduction of the new technology for price ranges 3, 4, 5, 6, 7 and 8. (c) Suppose government intervenes in the maize market and fixes a minimum price of GHC8 per bag after the introduction of the new technology. i. What happens in the maize market? ii. Give two (2) measures that the government can take to deal with the situation created by the minimum price in (c) i. aboveThe use of raw materials is an important element of the non-price determinant known as technology. costs of inputs. expectations of future prices. taxes and subsidies.