Solve the System by Substitution,if Possible $$\left\{ \begin{array} { l } - 8 x + 7 y = - 11 \\16 x + 14 y = 106\end{array} \right.$$

question 24

Multiple Choice

Solve the system by substitution,if possible.​ $$\left\{ \begin{array} { l } - 8 x + 7 y = - 11 \\16 x + 14 y = 106\end{array} \right.$$ ​

• A)(​4,3)
• B)​(16,14)
• C)​​(- 4,- 3)
• D)​(-11,106)
• E)​(- 16,- 14)

Differentiate between the concepts of efficiency loss of a tax and tax revenue.

Comprehend the regressive nature of sales taxes on consumer goods.

Analyze the progressive and regressive characteristics of different tax systems.

Understand the impact of supply elasticity on the tax burden borne by producers.

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Definitions:

Direct Labour

The wages paid to workers directly involved in the production of goods or services, considered a variable cost.

Direct Materials

Raw materials that can be directly attributed to the production of specific goods or services.

Net Operating Income

The total profit of a business after operating expenses are subtracted from gross profit but before deducting interest and taxes.

Contribution Margin

The amount of revenue remaining after deducting variable costs, which can be used to cover fixed costs and contribute to profit.