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Scrat [10]
3 years ago
6

Producer surplus is the difference between the _____ price and the minimum price at which a producer would be willing to sell a

particular quantity.
Business
1 answer:
gogolik [260]3 years ago
5 0

Answer:

Market

Explanation:

Producer surplus is the difference between the market price and the minimum price at which a producer would be willing to sell a particular quantity.

Producer surplus is known to be the total amount that a producer benefits or gains from producing and selling a quantity of a good at the market price. The total revenue that a producer receives from selling their goods minus the total cost of production equals the producer surplus.

You might be interested in
True or false<br> Price fluctuations or changes help to clear the market
san4es73 [151]

Answer:

true

What does MARKET CLEARING mean? ... In economics, market clearing is the process by which, in an economic market, the supply of whatever is traded is equated to the demand, so that there is no leftover supply or demand

there for the answer is true

6 0
2 years ago
A 60,000 square meter rectangular yard is to be enclosed on three sides by wood fencing that costs $25.00 per meter and on the f
raketka [301]

Answer:

C'(y) = 50 -\frac{3900000}{y^2}=0

And we can solve for y and we got:

y = \sqrt{\frac{3900000}{50}}= 279.285

And using condition (1) we can solve for x and we got:

x= \frac{60000}{279.285}= 214.834

So then the minimum cost for this case would be:

C = 50*279.285 + 65*214.834 = 27928.49

Explanation:

For this case the graph attached illustrate the problem for this case

We know that the total area is 60000, so then we have:

xy = 60000

If we solve for x we got:

x = \frac{60000}{y}  (1)

Now we can define the cost function like this:

C = 2*(25)*y + 25 x +40 x

C(x,y) = 50 y + 65 x

We can use the condition (1) and if we replace in the cost function we have:

C(y) = 50 y + 65(\frac{60000}{y})

Since we need to minimize the cost, we can derivate the function in terms of y and we got:

C'(y) = 50 -\frac{3900000}{y^2}=0

And we can solve for y and we got:

y = \sqrt{\frac{3900000}{50}}= 279.285

And using condition (1) we can solve for x and we got:

x= \frac{60000}{279.285}= 214.834

So then the minimum cost for this case would be:

C = 50*279.285 + 65*214.834 = 27928.49

7 0
3 years ago
You recently interviewed a candidate for a position in your sales department. However, another candidate was more qualified. You
AleksAgata [21]

Answer:

B. Invite further correspondence.

C. Close with good wishes.

D. Buffer the opening.

Explanation:

These are all strategies that can be used to soften the bad news of rejection for a candidate that is not going to be hired. When you buffer the opening of your correspondence, you contribute to making the reader feel less negative about the news. Moreover, by inviting further correspondence, you demonstrate that the rejection is nothing personal and should not be taken as such. Finally, by closing with good wishes, you end on a positive note that is reassuring to the candidate.

8 0
3 years ago
Read 2 more answers
In a perfectly competitive industry, the short-run supply curve for the market is the:
DENIUS [597]

Answer:

b. marginal cost curve above the average variable cost curve.

Explanation:

A perfect competitive indsutry is a characterised by many firms selling homogenous goods and services. Firms are price takers and there are no barriers to entry or exit of firms in the industry.

The supply curve of a perfectly competitive firm in the short run is the part of the marginal cost curve that lies above the average variable cost curve.

A perfect competition maximises profit where price equals marginal cost.

I hope my answer helps you

3 0
3 years ago
Which of the following is a correct statement?
Nastasia [14]

Answer:

The answer is B.

Explanation:

In purely competitive firms, there are many buyers and sellers that no single buyer or seller can influence the price of goods. They accept the price set by the market conditions which depend on the market supply and demand. Firms in this market are price-takers.

In monopolistic firm, no one is competing against him. He is the only one in the industry. He is the only seller while buyers are many. In most cases, buyers do not have alternative than to buy the product. Because of this, the firm in monopoly sets its price. He is a price-maker.

8 0
2 years ago
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