Answer: This is the correct and complete question ; The demand function for a product is given by p = -0.05x2 - 0.3x + 0.8, where p is the unit price in dollars and x is the weekly demand for the product each week, measured in thousands of units. Find the consumer's surplus if the market price for the product is $5.
Answer for the consumer surplus is 7033.3million
Explanation:
The concept of consumer surplus shows the disparity between the price that consumers are willing to pay for a product in the market and the actual price they do pay on a product. Consumer Surplus is also the difference between the price that a consumer is willing to pay for a commodity and the price that the consumer actually pays. For example, if you would pay 76p for a cup of tea, but can buy it for 50p – your consumer surplus is 26p
Consumer surplus is measured as the area below the downward-sloping demand curve, or the amount a consumer is willing to spend for given quantities of a good, and above the actual market price of the good, depicted with a horizontal line drawn between the y-axis and demand curve.
The attached below shows the detailed calculations with steps.
Answer:
B. There is a movement down along a stationary money demand curve
Explanation:
Whenever the price level changes there is movement down or up along a stationary money demand curve, in this case because the price level is decreasing there will be a movement down because the demand curve is downward sloping and when price decreases more quantity is demanded so the movement is downwards.
Option A and C are wrong because change in price levels cannot cause the curve to shift right or left. Whenever the curves shift to the right or left it is because of non price reasons.
Answer:
the growth rate is 3%
Explanation:
The computation of the PAMC growth rate is shown below:
Price of the stock = Current year dividend ÷ (required rate of return - growth rate)
$16.25 = $0.78 ÷ (0.078 - growth rate)
0.078 - growth rate = 0.048
So, the growth rate is 3%
We simply applied the above formula so that the correct value could come
And, the same is to be considered
Payment alternatives are part of the Selection & Purchase phase <span>of the research-based buying process. This is the third phase of the process and includes:
</span>Negotiation activities to obtain lower price or added quality, payment alternatives including use of cash & various credit plans and assessment of acquisition & installation that might be encountered