What Is the Sales Tax Paid on an Item Whose

question 404

Short Answer

What is the sales tax paid on an item whose total receipt was $100.75 and whose sales tax rate was 5.5%?

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Definitions:

Production Possibility Frontier

The Production Possibility Frontier is a curve depicting all maximum output possibilities for two goods, given a set of inputs.

Production Possibility Frontier

A curve depicting all maximum output possibilities for two or more goods, given a set of inputs.

Capital Stock

Refers to the total amount of physical assets owned by a company that are used in producing goods or services.

Technology

Application of scientific knowledge for practical purposes, especially in industry and improvements in tools, machines, techniques, and processes.