State Sales Tax Is Based on Retail Price $y = 10.4017 x ; \$ 56.72$

question 1

Multiple Choice

State sales tax is based on retail price.An item that sells for $180.99 has a sales tax of $17.4.Find a mathematical model that gives the amount of sales tax y in terms of the retail price x.Use the model to find the sales tax on a $589.99 purchase.(Round your answer to four decimal places. ) ​

• A) \(y = 10.4017 x ; \$ 56.72\)
• B) \(y = 0.0961 x ; \$ 56.72\)
• C) \(y = 0.0961 x ; \$ 589.99\)
• D) \(y = 0.0961 x ; \$ 6,137\)
• E) \(y = 10.4017 x ; \$ 6,137\)

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Definitions:

Quantity Adjustments

Changes made in the quantity of goods produced or procured in response to shifts in demand or supply.

Laissez-Faire Economy

An economic system where private parties are free from government intervention, such as regulations, privileges, tariffs, and subsidies.

Central Government Authority

The part of the government that has a national mandate and is responsible for the implementation and administration of policy and law in a country.

Command Economies

An economic system where the government or a central authority makes all decisions about the production and distribution of goods and services.