Naomi is willing to pay $120 dollars for a multi-cat condo. She ends up paying $90. Naomi's consumer surplus is $30.
Consumer surplus is also known as buyer's surplus. It is the economic measure of a customer's excess benefit. It is calculated by analyzing the difference between the consumer's willingness to pay for a product and the actual price they pay.
Consumer surplus is calculated by:
Consumer surplus = Maximum price buyer is willing to pay – Actual price.
So, Naomi is willing to pay $120 dollars for a multi-cat condo but she ends up paying $90.
Therefore, $120 - $90 = $30
Hence, Naomi's consumer surplus is $30.
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Answer: 12.47%
Explanation:
First convert the APR to the relevant periodic rate.
The compounding is done daily so the periodic rate is:
= 11.75%/365
Effective Annual rate is calculated by the formula:
= ( 1 + periodic rate) ^ compounding period per year - 1
= ( 1 + 11.75%/365)³⁶⁵ - 1
= 12.47%
Answer:Production budget for 2020 =77,000 units
Explanation:
Production budget also referred to as manufacturing budget tells a business the expected units needed to be produced which depends on the sales budget in the inventories ( both closing and opening) so as to meet customers demand.
Units produced = Projected sales + desired ending inventory – beginning inventory
Units Produced/ Production budget for 2020 =87,000 + 22,000 - 32,000
= 77,000 units
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Answer:
Viewers of the World Series are likely to see ads for beer and cars, and viewers of the Academy Awards broadcast are likely to see ads for clothing and hair care products, due to;
C. differing demographic data for potential and past viewers.
Explanation:
Marketing is the selling of a product by the use of various channels to improve a company's market share. An aspect of marketing is advertising. Advertising is the use of visual and audio material to promote a product for commercial purposes. Research has shown that effective advertisement campaigns often translate to increased demand for advertised products. When companies increase the sale of their products, there is a huge potential in increasing the company's profit margins. The major aim of most companies in commercial business is to increase their profit margins since this is what is considered as success in commercial business.
Before deciding to produce an advertisement there are many factors that need to be considered. An example is to analyse the demographic data. Demographic data is information that is characteristic about a certain group of people. In our case, advertisements usually target a given audience based on age, income levels, and gender. Viewers of the world Series are mostly of the male gender so it would be advisable to run advertisements that appeal to that group.
Answer:
B. Network Group
Explanation:
Network group involves a group of people (who may not necessarily share thesame common identity) that comes together with the aim of developing one another to achieve individual growth. In this case, Tonya formed a network group in her new workplace made up of women like her who are interested in advancing career wise in the company.
