A government imposes a per-gallon tax on gasoline. The before-tax price of a gallon of gas is $3 per gallon. The after-tax price of a gallon of gas is $10. Demand for gasoline is unchanged after the tax. Which of the following is true? a. The amount of deadweight loss increases.
b. The demand for gasoline is perfectly inelastic.
c. Producers of gasoline lose revenue after the tax.
d. The supply of gasoline cannot meet the demand.
e. Consumers and producers bear the tax burden equally.

Josie, an unmarried taxpayer, has $155,000 in salary, $10,000 in income from a passive investment in a limited partnership, and a $26,000 passive loss from a real estate rental activity in which she actively participates. if her modified adjusted gross income is $155,000, how much of the $26,000 loss is deductible

In three to four sentences, explain the effect of a price ceiling on the quantity of a good and who this intervention intends to assist

Lynch company manufactures and sells a single product. the following costs were incurred during the company’s first year of operations: variable costs per unit: manufacturing: direct materials $ 12 direct labor $ 6 variable manufacturing overhead $ 1 variable selling and administrative $ 1 fixed costs per year: fixed manufacturing overhead $ 308,000 fixed selling and administrative $ 218,000 during the year, the company produced 28,000 units and sold 15,000 units. the selling price of the company’s product is $56 per unit. required: 1. assume that the company uses absorption costing: a. compute the unit product cost. b. prepare an income statement for the year. 2. assume that the company uses variable costing: a. compute the unit product cost. b. prepare an income statement for the year.