Naomi is willing to pay $120 dollars for a multi-cat condo. She ends up paying $90. Naomi's consumer surplus is $30.
Consumer surplus is also known as buyer's surplus. It is the economic measure of a customer's excess benefit. It is calculated by analyzing the difference between the consumer's willingness to pay for a product and the actual price they pay.
Consumer surplus is calculated by:
Consumer surplus = Maximum price buyer is willing to pay – Actual price.
So, Naomi is willing to pay $120 dollars for a multi-cat condo but she ends up paying $90.
Therefore, $120 - $90 = $30
Hence, Naomi's consumer surplus is $30.
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Answer:
effective annual yield = 6.09
Explanation:
given data
rate r = 6%
compounded semi-annually
solution
we get here effective annual yield that is express as
effective annual yield = 
- 1 ..................1
here n is 2 for semi-annually
put here value and we get
effective annual yield = 
- 1
effective annual yield = 0.0609
effective annual yield = 6.09 %
effective annual yield = 6.09
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Answer:
Value of ending inventory on May 15 after sale = $272
Explanation:
The periodic nventory methods calculating inventory through a physical count at the end of the period.
Under FIFO method, the inventory that is purchased first is the one that is sold first. Thus, a sale of 30 units on May 15 will be made from:
Cost of sales:
17 units at $ 11 = 187
11 units at $ 16 = 176
Remaining units = 30 - (17+11) = 2
The 2 units will be taken from units purchased on May 12.
The ending inventory, thus, will be 18 - 2 = 16units at $17 per unit
Value of ending inventory on May 15 after sale = 16 * 17 = $272
