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Black_prince [1.1K]
3 years ago
10

On a shopping trip, Melanie decided to buy a light blue coat made from woven fabric. A tag on the coat stated that the price was

$79.95. When she brought the coast to the store's sales clerk, Melanie was told that the coat was on sale, and she would pay 20 percent less than the price on the tag. After the discount was applied, Melanie paid $63.96, $15.99 less than the original price. The value of Melanie's consumer surplus from this purchase is
A. $79.95 since this is the price she is willing to pay
B. at least $15.99 since this is the difference between the price Melanie is willing to pay for the cont and the actual price she pays, but she could have be willing to pay more than $79.95 for the coat
C. exactly $15.99 since this is the difference between the maximum price Melanie is willing to pay for the cost and the actual price she pays.
D. $63.96 since this is the actual price she pays.
Business
1 answer:
sergij07 [2.7K]3 years ago
5 0

Answer: 5

Explanation: C

Consumer surplus is the difference between the quantity that a consumer is eager to pay for any product and the amount that he or she really ends up paying for that commodity. In this question Melanie was expecting to pay $79.95 when she saw the tag. Later she came to know that the coat was on a sale and she would have to pay 20% less. She finally paid $63.96 that is $15.99 less than the stated price $15.99. Thus, $15.99 is the consumers' surplus.

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Answer: Safety needs

Explanation:

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3 0
3 years ago
A notary signing agent wants to stand out from other nsas by guaranteeing to borrowers and contracting companies that all of her
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A notary signing agent wants to stand out from other NSA's by guaranteeing to borrowers. This is prohibited if it is stated to be a guarantee.

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3 0
2 years ago
The records of penny Co. Indicated that 415,000 of merchandise should be on hand December 31. The phyiscla inventory indicates t
Nata [24]

Answer:

See explanation section

Explanation:

As there is a difference between the physical count of the inventory and actual Inventory count, it indicates that the merchandise inventory is either sold or wasted. However, for continuing the operation smoothly, it is assumed as sold. Therefore, the journal entry to record the sale is -

December - 31       Cost of goods sold           Debit          45,000

                           ($415,000 - $370,000)

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                    (To record the sale of merchandise: adjusted)

5 0
3 years ago
Stanley's Bicycles store buys bicycles on average for $600 and sells them on average for $750. He pays a sales commission of 15%
Rudik [331]

Answer:

Stanley's Bicycles contribution margin is $7,500

Explanation:

<u>Stanley's Bicycles Contribution Margin Income Statement for the month of June</u>

Sales ($750 x 200)                                                       $150,000

Less Variable Costs :

Costs of Sales ($600 x 200)                  $120,000

Commissions ( $150,000 x 15 %)            $22,500    ($142,500)

Contribution                                                                     $7,500

Less Fixed Costs

Rent                                                             $1,400

Salaries                                                       $3,000       ($4,400)

Net Income                                                                       $3,100

Conclusion

Contribution Margin is Sales less Variable Costs. Therefore, Stanley's Bicycles contribution margin is $7,500

3 0
3 years ago
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They wanted to ensure that the bill of rights was included in the constitution.
8 0
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