Examlex
If the price elasticity of supply of labor is equal to 0.5 and the price elasticity of demand for labor is -2, then which of the following is likely to result from a tax on labor earnings?
Net Income
The final income of a business once expenses and taxes are removed from the total revenue.
Invested Capital
Total capital invested in a company by its shareholders and debt holders, used for calculating returns generated by a company.
Assets
Assets represent resources owned or controlled by a business or individual that are expected to produce economic value or benefit in the future.
Total Assets Turnover Ratio
A measure of a firm's efficiency in using its assets to generate sales, calculated by dividing sales by total assets.
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