Many states tax cigarette purchases. Suppose that smokers are unhappy about paying the extra charge for their cigarettes. If the state imposes the tax on the stores that sell the cigarettes rather than on smokers, it will: . a. cause some stores to go out of business.
b. lower prices for cigarette smokers because the tax would be on stores that sell the cigarettes rather than on smokers.
c. not make any difference to smokers because the tax incidence or burden of the tax is a function of the relative elasticities of supply and demand.
d. raise prices for cigarette smokers because the tax would be on stores and they will raise prices.

He taylor company sells music systems. each music system costs the company $100 and will be sold to the public for $250. in year one, the company sells 100 gift cards to customers for $250 each ($25,000 in total). these cards are valid for just one year, and company officials expect them to all be redeemed. in year two, only 96 of the cards are returned. what amount of net income does the company report for year two in connection with these cards? a. $15,000b. $15,400c. $15,500d. $15,800

You are thinking of making your mansion more energy efficient by replacing some of the light bulbs with compact fluorescent bulbs, and insulating part or all of your exterior walls. each compact fluorescent light bulb costs $4 and saves you an average of $2 per year in energy costs, and each square foot of wall insulation costs $1 and saves you an average of $0.20 per year in energy costs.† your mansion has 150 light fittings and 3000 sq ft of uninsulated exterior wall. to impress your friends, you would like to spend as much as possible, but save no more than $750 per year in energy costs (you are proud of your large utility bills). how many compact fluorescent light bulbs and how many square feet of insulation should you purchase? how much will you save in energy costs per year? (if an answer does not exist, enter dne.)

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