Suppose There Is Currently a Tax of $50 Per Ticket

question 87

Multiple Choice

Suppose there is currently a tax of $50 per ticket on airline tickets.Sellers of airline tickets are required to pay the tax to the government.If the tax is reduced from $50 per ticket to $30 per ticket,then the

• A)demand curve will shift upward by $20,and the price paid by buyers will decrease by less than $20.
• B)demand curve will shift upward by $20,and the price paid by buyers will decrease by $20.
• C)supply curve will shift downward by $20,and the effective price received by sellers will increase by less than $20.
• D)supply curve will shift downward by $20,and the effective price received by sellers will increase by $20.

Identify the conditions under which charitable pledges may be considered enforceable contractual obligations.

Appreciate the legality and enforceability of various contractual agreements, including those involving forbearance and illusory promises.

Grasp the concept of legal detriment and how it is required for mutual exchange in contracts.

Understand the specific provisions of laws such as the EU Data Protection Directive and the UCC regarding contracts.

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Definitions:

Extrinsic Motivation

The drive to perform a task or engage in an activity due to external rewards or pressures rather than for the satisfaction derived from the activity itself.

Intrinsic Motivation

The drive to do something because it is inherently interesting or enjoyable, not for some separable consequence or external reward.

Quality Of Performance

A measurement reflecting how well an entity meets customers' needs and expectations through its products or services.

Extrinsic Motivation

A form of motivation driven by external rewards or pressure rather than internal desire.