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1 year ago

Consumer surplus is the difference between the ___ price a consumer is willing to pay for a product and the price paid.

1 answer:

4 0

Consumer surplus is the difference between the highest price a consumer is willing to pay for a product and the price paid.

A consumer is someone or a group who intends to order, orders, or uses purchased goods, products, or services basically for private, social, family, household and comparable desires, not at once related to entrepreneurial or business sports.

Any individual who purchases services or products for his non-public use and no longer for manufacturing or resale is called a purchaser. A customer is one who's the selection-maker whether or now not to buy an object at the store or a person who is stimulated by using advertisement and advertising

Purchasers represent the top trophic levels. unlike manufacturers, they cannot make their own meals.

Learn more about Consumers here:brainly.com/question/380037
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Why is real GDP a more accurate measure of an economy's production than nominal GDP?

Verizon [17]

Answer:

The correct answer is option B.

Explanation:

Nominal GDP measures economic growth at current prices. It measures the value of output produced on the basis of current prices. It is thus not an inflation measure of economic growth as it includes the change in the price level.

Real GDP is an inflation-adjusted method to measure economic growth. It measures a change in economic output on the basis of constant. It is thus considered a more accurate measure of the economic growth of a nation as it is not influenced by changes in the price level.

6 0

3 years ago

Financial statement data for years ending December 31, 2019 and 2018, for Edison Company follow: 2019 2018 Sales $513,500 $480,0

madam [21]

Answer:

The answer is

For 2018 - 1.5

For 2019 - 1.3

Explanation:

Asset turnover ratio=Net sales/average total assets

For 2018:

Sales - $480,000

Beginning asset - 360,000

Ending asset -360,000

Average total asset:

($280,000 + $360,000)/2

=$320,000

Therefore, asset turnover for 2018 is:

$480,000/$320,000

=1.5

For 2019:

Sales - $513,500

Beginning asset - $360,000

Ending asset - $430,000

Average total asset:

($360,000 + $430,000)/2

=$395,000

Therefore, asset turnover for 2019 is:

$513,500/$395,000

=1.3

5 0

3 years ago

What is another term for liability?<br> A. asset<br> B. notes<br> C. debt<br> D. accounts

Fiesta28 [93]

Answer:

Another term for liability is debt, because both of these terms are accountable for money charges and assist needed :3

Explanation:

6 0

3 years ago

Which of the following is the best advice for written communication that is highly important?

Elodia [21]

Answer:

"D" is the correct answer!

Explanation:

Written communication is the use of a printed message, such as letters, training manuals, memos, proposals and emails. Emails. memos etc are all technology channels or apps.

4 0

2 years ago

When the price of an inferior good falls, the substitution effect leads to ________ in the quantity purchased and the income e

hammer [34]

When the price of an inferior good falls, the substitution effect leads to an increase in the quantity purchased and the income effect leads to a decrease in the quantity purchased.

An inferior good is something consumers would purchase only if they had more income so if the price falls, customers are able to afford to use this product as a substitute to an item of lower price that they currently purchase.

4 0

3 years ago