Medicaid, Medicare, Social Security, Unemployment, and welfare programs.
What is government entitlement?
Any benefit or service that is supplied by the government or that is managed by the government and to which some or all people are legally entitled. The phrase is additionally, though less commonly, used to refer to benefits given by employers to workers unilaterally, as required by law or by contract (see fringe benefit). In the United States, some government-provided or government-managed benefits have been means-tested (Medicaid, AFDC, and the Supplemental Nutrition Assistance Program (SNAP), formerly known as food stamps), while others have been accessible to the majority of people regardless of their financial situation (social security and Medicare).
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The answer to this question is the last item in the choices which is "decrease consumer surplus". Thus, we have it like along a given downward-sloping demand curve, an increase in the price of a good will also result to decrease consumer surplus. Also, when decrease consumer surplus is happening it will effect also to increase producer surplus.
Answer:
Answer is $63.
Explanation:
Price = D1/(ke- g) = 3.15/(.13 - .08) = $63
Answer is $63.
Answer:
The correct answer is: continue operating, exit the market.
Explanation:
The total revenue of a firm is $1,250.
The variable cost is $1,000.
The total fixed cost is $500.
At this level of output, the firm is maximizing profit.
The total cost here is
= TFC + TVC
= $500 + $1,000
= $1,500
The total cost incurred is greater than the total revenue earned. This means that the firm is having losses. The firm will not shut down in the short run as it will operate until the variable cost is being covered.
But in the long run, the firm will exit the market as it will need to cover all the costs to continue operating.