For the purpose of taxes and subsidies, explain how business law can influence how production costs are covered.From the point of view of both business law and economics, elaborate on the interaction of price increases in response to a fear of losing revenue. 3. Come up with a perspective on the objectivity and subjectivity of the Importance of Income Elasticity for business law dynamics. 4. For the Unit Elasticity of Supply, analyze the proportionality of the ups and downs of the prices accordingly.examine this assertion's implications for the context of business law;6. How would you relate the subjectivity of government action to the commodity and its initial payment in practice if the supply of a commodity is elastic in response to a rise in price? 7. Establish a connection between the parameters that the capital production factor influences when determining working capital or circulating capital. 8. What are the primary guidelines to monitor when raising the labor factor of production to match processors? 9. Explain the efficiency of labor to determine efficacy in accordance with the Education and Training ACT in business law and how the working population should be taken into account when streamlining the need for division of labor