Answer:
Given that,
P = 200,000 – 2 Q
Q = number of cars sold per year
P is in $/car
Selling price = $ 75,000
Subsidy = $ 5,000
Equating the demand curve to the price,
200,000 - 2Q = 75,000
2Q = 200,000 - 75,000
2Q = 125,000
Q = 62,500
Without subsidy,
Price = $ 75,000
Quantity demanded = 62,500.
When a subsidy of $ 5,000 is paid then the price paid by buyers will be equal to $ 70,000.
200,000 - 2Q = 70,000
2Q = 130,000
Q* = 65,000
Consumer surplus (without subsidy)
= 0.5 × 125,000 × 62,500
= $ 3,906,250,000
Consumer surplus(with subsidy)
= 0.5 × (200,000 - 70,000) × 65,000
= $ 4,225,000,000
Change in consumer surplus = Consumer surplus(with subsidy) - Consumer surplus (without subsidy)
= 4,225,000,000 - 3,906,250,000
= - $ 318,750,000
All of them could work together by saving time helping each other cooking and serving food
Answer:
The correct answer is: false.
Explanation:
The market for lettuce <u>does exhibit</u> the two primary characteristics that define perfectly competitive markets that is the fact of the sellers having identical products to offer and a large number of buyers and sellers are in the market and therefore is also known as an atomized market where both buyers and sellers do not influece in the price of the market but instead this price is already given by the market and accepted by both parties.
The <span>amount of direct labor should Regan charge to work-in-process is the wages at base direct-labor rates, which is $325,000.00. Shift Differentials and Overtime Premiums are not included,</span>