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
PtichkaEL [24]
3 years ago
9

Welfare analysis: Basic conceptsIdentify whether each of the following statements best illustrates the concept of consumer surpl

us, producer surplus, or neither. Statement Consumer Producer Neither Surplus Surplus I sold a used laptop for $149, even though I was willing to go as low as $140 in order to sell it. I sold a watch for $59 on eBay last week. This week, someone offered me $145 for it. Even though I was willing to pay up to $46 for a jersey sweater, I bought a jersey sweater for only $39.
Business
1 answer:
STALIN [3.7K]3 years ago
3 0

Answer:

Producer surplus

Neither

Consumer surplus

Explanation:

Consumer surplus is the difference between the willingness to pay of a consumer and the price of the good.

Producer surplus is the difference between the price of the good and the least price the seller is willing to sell his product.

1. Price = $149

least price seller was willing to sell his laptop = $140.

Hence it's producer surplus.

2. Price = $59

there's no information on the least price the seller was willing to sell or the highest amount the buyer was willing to buy.

hence it's neither producer or consumer surplus

3. Price = $39

highest amount buyer was willing to buy = $46

Hence, it's consumer surplus

I hope my answer helps you

You might be interested in
During which phase of dmaic (define, measure, analyze, improve, control) is the sole purpose to demonstrate, with fact and data,
lawyer [7]
DMAIC is an acronym for Define, Measure, Analyze, Improve and Control. It is a procedure intended to enhance and keep up business forms. The period of which the sole intention is to show with actuality and information that your answers take care of your concern is "move forward." 
It alludes to an information driven change cycle utilized for enhancing, streamlining and settling business procedures and outlines. The DMAIC change cycle is the center device used to drive Six Sigma ventures.
7 0
3 years ago
Which group of americans saw job opportunities expanded during wwii?
Afina-wow [57]
<span>Women were able to find more employment on the in America during WW2, as many jobs typically staffed by men were being vacated due to the increased need for manpower in the military.</span>
7 0
3 years ago
The economic problem of _____ arises because human wants and desires are unlimited and the means to satisfy these wants are limi
raketka [301]

Answer:

Insatiation

Explanation:

Insatiation is an economic problem which arises as a result of human wants and cravings being limitless with a limited means of satisfying these wants

Economic problem of insatiation can be solved when there are also unlimited means of satisfying the limitless wants and desires of human

4 0
3 years ago
Iona wrote her will. The following year, she wrote another will that expressly revoked the earlier will.Later, while cleaning ho
snow_lady [41]

Answer and Explanation:

In the given case, the second will would be destroyed non-intentionally by the testatrix that represent the person who writes the will. Also the second will would have be intended to revoke the first will

In addition to this, Testatrix intends the second will to be value also at the same time she dont want the first will to be probated

So the second will would be upheld because of testamentary motive.

4 0
2 years ago
An investment offers a total return of 15 percent over the coming year. Janice Yellen thinks the total real return on this inves
Ludmilka [50]

Answer:

The inflation rate of return is 3.60%

Explanation:

As we know,

Inflation rate of return = {( 1 + nominal rate of return) ÷ ( 1+ real rate of return)} - 1

= {( 1 + 15%) ÷ (1+11%)} - 1

= (1.15) ÷ (1.11)} - 1

= 1.0360 - 1

= 0.360 or 3.60%

The inflation rate of return shows a relationship between the nominal rate of return and the real rate of return. We simply divide the nominal rate of return by real rate of return

8 0
3 years ago
Other questions:
  • Would you rather have a savings account that offered simple interest, or an account that offered compound interest? Why?
    10·2 answers
  • Suppose the economy is initially at potential output and the quantity of aggregate output supplied increases. What information w
    8·1 answer
  • Classification of Cash Flows:
    10·1 answer
  • "marvel parts, inc., manufactures"
    9·2 answers
  • Part of the growth strategy for Yum! Brands, the parent company of KFC, Pizza Hut, and Taco Bell, is expansion of its current fa
    9·1 answer
  • We are pleased to offer you the position of assistant manager. We propose a start date of March 14.
    15·2 answers
  • Gap, Inc. owns Banana Republic, Old Navy, and Gap brands, all of which are brands of clothing targeting different segments of th
    14·1 answer
  • National Inc. manufactures two models of CMD that can be used as cell phones, MPX, and digital camcorders. Model Annual Sales in
    13·1 answer
  • I WILL MARK BRAINLIEST IF CORRECTHow does the value of the cars produced by the Japanese company within the United States impact
    15·1 answer
  • Technological innovation can support a ________ strategy, in which an advantage comes from having a unique good or service for w
    7·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!