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andrey2020 [161]
3 years ago
7

Mr. Noriega paid $700 for each of three suits. Since all of the suits were pleasing to his taste, he would have been willing to

pay according to this schedule: $950 for the first suit, $800 for the second suit, and $700 for the third suit. How much was his consumer surplus?a. $100.b. $150.c. $350.d. $250.
Business
1 answer:
yarga [219]3 years ago
8 0

Answer: C)$350

Explanation:

First suit

Price willing to pay=$950

Actual paid price=$700

Consumer surplus=$950-$700

=$250

Second suit

Price willing to pay=$800

Actual paid price=$700

Consumer surplus=$800-$700

=$100

Third suit

Price willing to pay=$700

Actual paid price=$700

Consumer surplus=$700-$700

=$0

Total surplus= 1st+2nd+ 3rd consumer surplus

= $250+$100+$0

=$350

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Answer:

The answer is option (C) authority-compliance style.

Explanation:

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This kind of dictatorial management style is due to the fact that a manager or boss believes that the needs of his/her subordinates or employees are relatively unimportant when compared to achieving success or getting work effectively done.

7 0
3 years ago
The narrowest definition of the money supply (M1) includes:
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Answer:

c. cash, checking account balances, and travelers' checks.

Explanation:

Money Supply is the concept that means the amount of the liquid financial products and total currency in the market or economy. It is regulated the macro-economically by the monetary policy. So, there are types of measures of money supply or stock:

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-MB: it equals M0+ the hard currency which are not technically in circulation and in bank reserves.

-M1: it is the most common one and equals M0 plus checking accounts plus travelers’ checks and other checkable deposits.

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That’s why we could notice that M1 narrowly means the cash, checking account and travelers’ checks.

5 0
3 years ago
Judy barnes, betty turley, and bob turner want to obtain limited liability for their business, but they want to avoid double tax
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The owners of the business should be able to register the company under sole-propietorship. In this type of ownership, the owners have the money and the money is considered theirs on the personal level. Thus, this makes them liable to single level of taxes. 
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Keller learns to think that everything has a lesson and a? A.)suggestion or B.)moral​
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B.) moral I think. Hope this helps

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3 years ago
On August 15, we purchased equipment for $5,000. We paid $1,000 down with the remainder to be paid later. What account(s) would
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Answer:

a. Cash and accounts payable

Explanation:

The journal entry to record this given transaction is shown below:

Equipment A/c Dr $5,000

       To Cash A/c $1,000

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6 0
3 years ago
Read 2 more answers
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