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3 years ago

Consumer surplus is___________.

Business

1 answer:

uysha [10]3 years ago

8 0

Answer: Option E

Explanation: Consumer surplus is a reflection of consumer benefits economically. Consumer surplus arises when the price consumers pay for a product or service is lower than the value they are prepared to pay.

It's a representation of the extra benefit customers get because they spend less for anything than they're ready to pay. Consumer surplus is centered on the marginal benefit economic theory, which seems to be the added value that a consumer receives from another segment of a product or service.

Thus, from the above we can conclude that the correct option is E .

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Real GDP per Capita in the US is currently $56,000 and grows at approximately 1.5% each year. Real GDP per Capita in China is cu

iragen [17]

Answer:

$t=40.467 years$ ≅40.5 years

Time for Both countries have same Real GDP per capita is 40.467 years≅40.5 Years

Explanation:

In case of US:

Present Value=$56,000

Increase=r=1.5%=0.015

Future GDP= $PV(1+r)^t$

where:

t is time

Future GDP= $56,000(1+0.015)^t$

In case of China:

Present Value=$8,000

Increase=r=6.5%=0.065

Future GDP= $PV(1+r)^t$

where:

t is time

Future GDP= $8,000(1+0.065)^t$

We have to find time t when both countries have same future GDP:

$(Future GDP)_{US}=(Future GDP)_{China}$

$56,000(1+0.015)^t$ = $8,000(1+0.065)^t$

Dividing equation by 8000:

$7*(1+0.015)^t=(1+0.065)^t\\(\frac{1.065}{1.015})^t=7$

Taking Natural log (ln) on both sides:

$ln 7=t*ln\frac{213}{203} \\t=40.467 years$

Time for Both countries have same Real GDP per capita is 40.467 years≅40.5 Years

6 0

4 years ago

While employed, the staff judge advocate ensures that the joint force commander understands the _____?

zhannawk [14.2K]

<span>the staff judge advocate ensures that the joint force commander understands the Plan and operational phase.
In joint force,two different forces are working together in one operation, and mistakes in communication and understanding on the approach is very likely to happen. By ensuring the understanding, we decrease the chance of potential miscommunication between two forces during the millitary engagement.</span>

4 0

3 years ago

Thomlin Company forecasts that total overhead for the current year will be $11,742,000 with 164,000 total machine hours. Year to

Basile [38]

Answer:

d.$72 per machine hour

Explanation:

Predetermined overhead rate = Budgeted Overheads ÷ Budgeted Activity

therefore,

Predetermined overhead rate = $11,742,000 ÷ 164,000

= $71.598 or $72

The predetermined overhead rate based on machine hours is $72 per machine hour.

3 0

3 years ago

Cumberland, Inc. has applied to its bank for a loan. The bank asks Cumberland's controller about the total amount of the company

torisob [31]

Answer:

B. The Accounts Receivable controlling account.

3 0

3 years ago

Grays Company has inventory of 17 units at a cost of $12 each on August 1. On August 3, it purchased 27 units at $11 each. 19 un

ludmilkaskok [199]

Answer:

Cost of goods sold =$226

Explanation:

<em>Under the First in First Out (FIFO) method of the perpetual inventory system, it assumed that the first batch of inventory received into the store should be issued out first. Therefore, inventories are valued using the price of the oldest batch in turn according to when the batches arrive.</em>

The 19 units of units sold in August 6 would be valued as follows:

17 units at $12 per units = 204

2 units at $11 per unit = 22

Cost of goods sold = 204 + 22 = $226

Cost of goods sold =$226

5 0

3 years ago