Answer:
$1
Explanation:
We can use the simple consumer surplus formula:
Consumer surplus = Maximum Price Willing to Pay - Actual Price
For Bob
Consumer Surplus = $10 - $8
= $2
For Lisa
Consumer Surplus = $7-8
= $-1
So, the total consumer surplus is $1
Answer:
Average cost units in inventory=$1,205
Explanation:
August 8
Weighted average cost in August 8
=( (2 × 100 )+ (3 × 250))/5=$190
Cost of goods sold in August 15 = 190× 3= 570
Balance in inventory in August 15 = 950
- 570 =380
Weighted average cost in August 25 = 380 + (3* 275)/(2+3)= 241 per
Average cost of units = $241 per unit
Average cost units in inventory in August 25= $241×5
=1205
Average cost units in inventory=$1,205
Answer: The four types of economic utility are form, time, place and possession. "Utility" in this context refers to the value, or usefulness, that a purchaser receives in return for exchanging his money for a company's goods or services.
Answer:
Explanation:
it means that the product wont be around aymore since its limited to retailer?
Answer:
1. Federal Food, Drug, and Cosmetic Act :-
The act governs level of quality for those food, drugs , medical instruments, as well as beauty products produced and procured by customers in the market of America. Government control as well as regulation of these guidelines was also supplied for under the law.
2. Truth in Lending Act (TILA) :-
The Truth in Lending Act (TILA) relates to the federal law that allows borrowers to make some statements regarding consumer credit conditions and prices. TILA includes rules regulating accessible-end credit lines, closed-end personal loans, retail lending as well as private lending to college.
