Calculate the Total Amount, Including Both GST and PST, That

question 279

Essay

Calculate the total amount, including both GST and PST, that an individual will pay for a car sold for $39,500 in: a) Alberta b) Quebec c) British Columbia

---

Definitions:

Efficiency

The degree to which resources are used effectively and waste is minimized, often aiming at maximizing output from given inputs.

Highest-value Bidder

The participant in an auction willing to pay the most for the item up for bid.

English Auction

A public sale method where bids are openly made and raised until no higher bid is offered, with the highest bidder purchasing the item.

Sealed Auction

An auction format in which all bids are submitted simultaneously in sealed envelopes, and the highest bid wins without bidders knowing the bid amounts of others.