Answer:
producer surplus is greater than consumer surplus.
Explanation:
Consumer surplus is the difference between the willingness to pay of a consumer and the price of the product.
Consumer surplus = willingness to pay - price of the product
$120 - $119 = $1
Producer surplus is the difference between the price of a product and the least price the seller is willing to sell his product.
Producer surplus = price - least price the seller is willing to sell his product.
$119 - $110 = $9
From the calculation, producer surplus is greater than consumer surplus.
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Complete question:
Tim and Michelle have decided to form a partnership with a 60/40 partnership interest ratio. Tim contributes $7500 cash and merchandise inventory with a market value of $1500. While journalizing this transaction ________.
A) Tim, Capital will be debited for $9000
B) Tim, Capital will be credited for $9000
C) Tim, Capital will be credited for $6000 and Michelle, Capital will be credited for $4500
D) Tim, Capital will be debited for $6000 and Michelle, Capital will be debited for $4500
Answer: Tim, Capital will be credited for $9000
Explanation: Tim's total contribution towards the partnership will be recorded as his capital. Since he has contributed $7,500 worth of cash, and merchandise inventory with a market value of $1,500. The market value of the merchandise inventory and the cash contributed adds up towards his capital contribution. This is $7,500 + $1,500 which sums up to a total of $9,000.
Answer:
C. Is top management committed to the study?
Explanation:
Yes, market research is very important for the organisations which can help them in finding new trends and patterns in their consumers, they can find out what are products which they need to launch further, which products are not performing well but the main question before starting the research process is that each and every single person of the organisation should take part in the whole process particularly the top level management should be agrees upon and committed to it otherwise the whole process will go in vain. Because when the top level will be committed, they not only by proving the resources needed for the research but also they will be happily implementing the research findings for the betterment of the organisation. Therefore, top management should be committed otherwise it will just be waste of time and efforts.
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Answer:
Evaluation of the price of the basket of goods with time is not accountable for the changes that are made by the customers on the increase in price of a specific good.
Explanation:
Inflation can be defined as the increase in the overall price and it can be measured in terms of CPI, i.e., Consumer Price Index.
CPI is generally measured as the weighted mean of the prices of the goods, basket which is supposedly fixed for two to three years.
In case, the quantity of the sales of the goods increases even if the cost of the goods remains same, the customer will purchase more of these goods and this shows up in the CPI index.
The demand of theses goods may slow down with a rise in the price of these goods where the the basket value remain unchanged resulting in overstate inflation where the customer replaces the goods at high price with that of its competitor with low price.