Answer:
Alice's consumer surplus = $5
Jeff's consumer surplus = $16
Nicole's producer surplus = $1
Explanation:
Consumer surplus is the difference between the willingness to pay of a consumer and the price of a good.
Consumer surplus = willingness to pay - price of the good
Producer surplus is the difference between the price of a good and the least price the producer is willing to accept
Producer surplus = price of the good - least price the producer is willing to accept
Alice's consumer surplus = $30 - ($35 - $10) = $5
Jeff's consumer surplus = $20 - [$16 - (0.75 x $16)] = $16
Nicole's producer surplus = $501 - $500 = $1
Answer:
2 tickets
Explanation:
the cost of membership is $25.
Cost of a ticket is $25
All cost get a 40 % dicsount
membersships earns a further 10% discount
total discount ofr membership eqauls 50%( 40+10)
There fore a member pays $ 12.5 { (50/100) $ 25) } for ticket
To get back cost of membership which is $25, a member need to buy 2 tricke { $25/12.5}
Answer:
They would cause relatively smaller reductions in death from heart disease.
Explanation:
Since in the question it is mentioned that the government incurred $45 million for research on the heart disease and gain that decreased the death occured from the heart disease. Now if the law of diminishing retuns hold, so the extra rise in expenditure on heart disease result in relatively small decline as it decreases the returns
Therefore the same is to be considered
Answer:
Option A
Explanation:
The correct answer is Option A.
immediate-short-run last as long as both input and output prices are fixed.
In economics, the supply curve is the representation of the relationship between the price of the product and the quantity of the product.
The price of the product is represented on the vertical axis whereas on horizontal axis quantity is represented.
Answer:
The penalty will be worth $200.
Explanation:
The certificate of deposit is worth $20,000.
The interest rate on it is 6%.
The penalty on early withdrawal is 2 months of interest.
The annual interest
The penalty will be
