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hichkok12 [17]
3 years ago
15

A market has four individuals, each considering buying a grill. Assume that grills come in only one size and model. Martina cons

iders herself a grill-master, and finds a grill a necessity, so she is willing to pay $400 for a grill. Javier is a meat-lover, honing his grilling skills, and is willing to pay $350 for a grill. Kamal wants to impress his friends with his vegetable grilling skills and is willing to pay $320 for a grill. Lina loves grilled shrimp and thinks it might be cheaper in the long run if she grills her own shrimp instead of eating out at a restaurant, so she is willing to pay $200 for a grill. If the market price ofgrills increases from $300 to $320, given the scenario described:
a. Collin is the only consumer who would be affected in terms of surplus.
b. Daniel drops out of the market.
c. Collin drops out of the market.
d. Collin loses any surplus he had.
Business
1 answer:
xxMikexx [17]3 years ago
6 0

Answer: d. Kamal loses any surplus he had.

Explanation:

The Consumer Surplus is defined as the difference between what a customer is willing to pay for a good minus the price of the good/ the price they pay.

Kamal was willing to pay $320 and the price was initially $300 which meant that he had a surplus of $20. The price has now increased to $320 which is the amount he is willing to pay so there is no longer a surplus. Kamal loses any surplus he had.

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The present worth of the cost savings if the company uses an interest rate of 15% per year on such investments is $442108.5079.

Explanation:

Present Worth = $100,000/(1 + 15%) + $100,000/(1 + 15%)^2 + $100,000/(1 + 15%)^3 + $200,000/(1 + 15%)^4 + $200,000/(1 + 15%)^5

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Therefore, the present worth of the cost savings if the company uses an interest rate of 15% per year on such investments is $442108.5079.

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Other things being equal, a ________ supply of workers tends to put ________ pressure on real wages.
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The answer is, larger; downward.

  • Other things being equal, a larger supply of workers tends to put  downward pressure on real wages.

<h3>How do wage increases affect the demand for and supply of labor?</h3>
  • The quantity of work required will alter in response to changes in pay or salary.
  • Employers will want to hire fewer workers if the pay rate rises.
  • There will be a reduction in the amount of labor requested and an upward shift in the demand curve.

<h3>What causes wage increase?</h3>
  • There are several reasons why employers may decide to raise salaries.
  • An increase in the minimum wage is the most frequent justification for wage increases.
  • The minimum wage can be raised by both the federal and state governments.
  • Companies that manufacture consumer items are also renowned for giving their employees small pay raises.

<h3>How does wage increase affect supply?</h3>
  • The aggregate supply curve shifts inward when the money wage rate increases, which results in a decrease in supply at all price levels.
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2 years ago
A(n) ________ is defined as a business that is independently owned and operated and is not dominant in its field of operations.​
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A Small business is defined as a business that is independently owned and operated and is not dominant in its field of operations.
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The correct answer is Option D.

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Based on the question, the par value of the common stock is 25,000 shares x $1.00 = $25,000 while the total cash collected by the company would be 25,000 shares x $2.85 = $71,250 and the appropriate entries will be:

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