All categories

1 year ago

What is the space between the buyer’s reservation price and the seller’s reservation price called?

Business

1 answer:

dimulka [17.4K]1 year ago

3 0

The space between the buyer’s reservation price and the seller’s reservation price is called the Total surplus.

What is reservation price for buyer?

A reserve price or reservation price is a word frequently used in auctions and refers to the lowest amount a seller will accept as a successful bid. An alternate, less well-known definition is the highest price a customer will pay for a good or service.

What is producers reservation price?

The minimal price that buyers and sellers are ready to accept in order to buy or sell a good is known as the reservation price. It is the highest price a potential buyer or consumer is willing to pay for a good; for a seller or producer, it is the lowest price they are willing to accept.

Learn more about reservation price: brainly.com/question/13215058

#SPJ4

You might be interested in

Miramar Industries manufactures two products, A and B. The manufacturing operation involves three overhead activities - producti

PolarNik [594]

Answer:

General overhead= $3.81 per direct labor hour

Explanation:

Given the following information:

General Overhead $80,000 Number of direct labor hours

Number of direct labor hours 9,000 12,000= 21,000

To calculate the activity rate, we need to use the following formula:

Activity rate= estimated costs / total amount of allocation rate

General Overhead= 80,000 / 21,000

General overhead= $3.81 per direct labor hour

8 0

2 years ago

What function of the management process is used to monitor and ensure the organization is meeting its goals? A. Controlling B.

Andrews [41]

Answer: Controlling

Explanation:

Controlling is a management process which involves comparing the outcome of an organization's processes to the targets set for those processes beforehand, and taking corrective measures in case the outcome is deviating from the set targets. For example, a manager of a business running at a loss, can identify the cause of the loss and find ways of correcting the negative outcome.

5 0

3 years ago

Mention two benefits of positive values at the work place

Trava [24]

giving health care and paying salary

6 0

2 years ago

Your family's house needs a new roof. in order to find out which roofers are reliable and charge fair prices, your family should

Alchen [17]

Your family should call your local Better Business Bureau. Hope this helps.

3 0

2 years ago

The _____ established a minimum wage and overtime pay for employees working more than 40 hours a week.

r-ruslan [8.4K]

According to the historical and information record, the Fair Labor Standards Act of 1938 established a minimum wage and overtime pay for employees working more than 40 hours a week.

Fair Labor Standards Act of 1938 was made to improve the working conditions of employees and also protect their rights against exploring employers.

The Fair Labor Standards Act of 1938 established standards on minimum wage, working hours, and oppressive child labor.

Hence, in this case, it is concluded that the correct answer is the "Fair Labor Standards Act of 1938."

Learn more here: brainly.com/question/15966261

6 0

2 years ago