1 Explain how increasing production can increase gross profit when using absorption costing When should a company use absorption costing rather than variable costing when setting sales prices 2 Suppose a 5 tax is placed on the sale of your good or service Describe what happens to the supply curve, demand curve, equilibrium price, and equilibrium quantity in the market for your good or service Identify the type of tax imposed Explain possible objectives for why the tax was imposed PLEASE USE APA CITATIONS FOR BOTH QUESTIONS FOR THE WEBSITE

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Question: 1. Explain how increasing production can increase gross profit when using absorption costing. When should a company use absorption costing rather than variable costing when

1.Explain how increasing production can increase gross profit when using absorption costing. When should a company use absorption costing rather than variable costing when setting sales prices?

2. Suppose a 5% tax is placed on the sale of your good or service

Describe what happens to the supply curve, demand curve, equilibrium price, and equilibrium quantity in the market for your good or service.
Identify the type of tax imposed.
Explain possible objectives for why the tax was imposed.
PLEASE USE APA CITATIONS FOR BOTH QUESTIONS FOR THE WEBSITE!!!!

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