Author Question: A buyer values a house at 525,000 and a seller values the same house at 485,000 . If sales tax is 8 ... (Read 88 times)

formula1 · **on:** Jul 1, 2018

A buyer values a house at 525,000 and a seller values the same house at 485,000 . If sales tax is 8 and is levied on the seller, then what would be the lowest price that the seller would be willing to sell at?
a. 527,000
b. 523,800
c. 525,000
d. 500,000

Question 2

A consumer values a house at 525,000 and a producer values the same house at 485,000 . If the transaction is completed at 510,000 . what level of tax rate will result in unconsummated transaction?
a. 1
b. 5
c. 3
d. 2