Assume that the local government in smithville reduces the level of government regulations on the local taxi cab market. taxis are no longer required to carry certain safety equipment, drivers no longer need special drivers licenses, etc. how will the market for taxi cab rides be impacted? supply will increase and the equilibrium price will decrease. supply will decrease and the equilibrium price will increase. supply will increase and the equilibrium price will increase. demand will increase and the equilibrium price will increase. supply and demand will be unaffected and the equilibrium price will not change.

Witch is an example of a non durable good?

Nichols inc. manufactures remote controls. currently the company uses a plantminuswide rate for allocating manufacturing overhead. the plant manager is considering switchingminusover to abc costing system and has asked the accounting department to identify the primary production activities and their cost drivers which are as follows: activities cost driver allocation rate material handling number of parts $5 per part assembly labor hours $20 per hour inspection time at inspection station $10 per minute the current traditional cost method allocates overhead based on direct manufacturing labor hours using a rate of $20 per labor hour. what are the indirect manufacturing costs per remote control assuming an method is used and a batch of 10 remote controls are produced? the batch requires 100 parts, 5 direct manufacturing labor hours, and 3 minutes of inspection time.

Because the demand for wheat tends to be inelastic. true or false