1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Citrus2011 [14]
3 years ago
5

Suppose the government imposes a price floor of $28 in this market. If the sellers with the lowest cost are the ones who sell th

e good and the government does not purchase any excess units produced, then total surplus will be

Business
1 answer:
Anit [1.1K]3 years ago
4 0

Answer:

$1120

Explanation:

The chart of the question is in the below image.

Consumer surplus is the area above the price line and below the demand curve whereas producer surplus is the area below the price line and above the supply curve. These areas can be calculated by using the formula of area of a triangle which is

If the government imposed a price floor of $28 then the consumer surplus will be:

A = (1/2)×$40×($48 -$28)

A = $400

The producer surplus = ($28 -$20)×$40 + (1/2)×($20-$0)×($40 -$0)

The producer surplus = $8× $40 + $400 = $320+$400 = $720

Total surplus can be calculated as:

Total Surplus = Consumer surplus + Producer Surplus

Total Surplus = $400 + $720 = $1120

Total Surplus is $1120

You might be interested in
Independent surveys suggest that companies cannot easily quantify the effects of diversity. How would you suggest that Alliant m
nata0808 [166]

How would you suggest that Alliant measure the effects of a diverse workforce?

Different background and more diversity can contribute for new strategies and innovation for the company. The effects of diversity can be directly quantified after hiring more diverse people into a determined sector and by comparing the profits before and after hiring. In other words, the UX of a product made by a company mostly with individuals from a social group A cannot easily design a product which a group B can identify themselves.

For example, the design of a woman intimate personal care products made exclusively by man might originate products which aren't that good as designed products made by a diverse group man and woman.

If a company ignored workforce diversity, how might it be affected?

The company can stuck into a non-creative solution and/or stays in sector without innovation. A company without innovation might be fragile to the competition companies.

6 0
3 years ago
Read 2 more answers
Liam was the beneficiary of a life insurance policy on his wife. Liam had paid $20,000 in premiums on the policy. Be collected $
Lesechka [4]

Answer:

B. FALSE

Explanation:

7 0
3 years ago
Classify each of the following in terms of their effect on interest rates (increase or decrease): I. Covenants on borrowing beco
kozerog [31]

Answer: I decreases; II decreases; III decreases

Explanation:

Debt Covenants becoming more restrictive means that less people want to borrow money. This shifts the demand curve to the left and this Decreases interest rates.

The Fed increasing money supply means that there is more money in the economy. This shifts the supply curve to the right thus having the effect of reducing Interests rates as there is more money available for loans.

Total Household Wealth increasing means that Households have less of an incentive to borrow money. This reduces the demand for interest rates so interest rates decrease.

5 0
3 years ago
S is close to retiring and would like to purchase a policy that will yield greater gains than bonds, but will still protect the
Lady bird [3.3K]
The answer is Equity Index Insurance.  The equity index insurance is a stable life insurance policy that allows policyholders to tie build-up values to a stock market index. The indexed universal life insurance policies characteristically comprise a minimum definite fixed interest rate constituent along with the indexed account selection.  The equity index insurance work as the total sum of cash value is accredited with interest founded on increases in an equity index but it is not openly capitalized in the stock market. Some policies permit the policyholder to select numerous index
7 0
3 years ago
Vijay Company reports the following information regarding its production costs. Direct materials $ 10 per unit Direct labor $ 20
kirill115 [55]

Answer:

Unitary variable cost= $40

Total variable cost= $800,000

Explanation:

Giving the following information:

Direct materials $ 10 per unit

Direct labor $ 20 per unit

Overhead costs for the year Variable overhead $ 10 per unit

Fixed overhead $ 160,000

Units produced 20,000 units

Unitary variable cost= direct material + direct labor + manufacturing overhead= 10 + 20 + 10= $40

Total variable cost= 20000units* 40= $800,000

7 0
3 years ago
Read 2 more answers
Other questions:
  • The effectiveness of a boycott depends on worker’s ability to do what?
    15·1 answer
  • Mark Ward is a farmer who owns land which borders on the right-of-way of the Northern Railroad. On August 10, 2007, due to the a
    15·1 answer
  • Which of the following is an example of public relations?
    15·1 answer
  • Determine whether the following changes or events would shift the LRAS curve to the right, to the left, or not at all.A. A large
    12·1 answer
  • Which of the following would shift the supply of Green Bay Packers football jerseys to the left? a. The Green Bay Packers make i
    6·1 answer
  • Employees working in the petroleum industry in Alaska might be receiving higher wages based on the fact that their careers requi
    9·2 answers
  • Han Products manufactures 22,000 units of part S-6 each year for use on its production line. At this level of activity, the cost
    14·1 answer
  • To use an outline for writing a formal business document, what should you do after entering your bottom-line statement? O A. Mov
    8·2 answers
  • OSHA requires that material safety data sheets be available in printed form at workstations where employees might be exposed to
    12·1 answer
  • Dilution solutions, inc. repurchased 500 shares of its $2 par value common stock for $10,000. the effect of this transaction on
    13·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!