His net benefit from attending State College is $40,000 – $20,000, or $20,000. Additionally, his net benefit from attending NoName U is $15,000 minus $0, which equals $15,000. Therefore, if he enrolls in State College, his economic surplus will be at its peak.
What is Economic?
Economics is the study of how people allocate scarce resources for production, distribution, and consumption, both individually and collectively.
The two branches of economics are microeconomics and macroeconomics.
Economics focuses on efficiency in production and exchange.
Learn more about Economic with the help of given link:-
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Answer:
It is too late for him to dis-affirmed the contract.
Explanation:
Contract is the legal binding agreement document between two parties for them to obey any given conditions specified in the document. <em>In the case of Bob, despite the fact that he was a minor, his signature on the BMW contract shows that it is binding between ABC Motors and him.</em>
<em>The motor company might not be aware of his legal age which shows he is a minor before entering the agreement with him. It is expected that, he should honor his contract to the latter.</em>
My guess would be B , Hope I helped :)
Answer:
Total contribution margin= $1,220,000
Explanation:
Giving the following information:
Purchase price= $1.8
Selling price= $14
Number of untis= 100,000
<u>First, we will determine the unitary contribution margin:</u>
Unitary contribution margin= selling price - unitary variable cost
Unitary contribution margin= 14 - 1.8
Unitary contribution margin= $12.2
<u>Now, the total contribution margin:</u>
Total contribution margin= 100,000*12.2
Total contribution margin= $1,220,000
