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Ann [662]
3 years ago
12

1st attempt Jung is willing to pay $85 for a new jacket that sells for $70. Eddie is willing to pay $65 for that same acket. Wha

t is the total consumer surplus for Jung and Eddie? Choose one:
A. $10
B. $15
C. $220
D. $150
E. $30
Business
1 answer:
Radda [10]3 years ago
7 0

Answer:

Option (B) is correct.

Explanation:

Consumer surplus refers to the benefit or surplus that a consumer get from purchasing the product. It is the difference between consumer's willingness to pay and the selling price of the product.

If the outcome of this difference is positive then there will be a consumer surplus and if the outcome of this difference is negative then there will be no consumer surplus.

Total consumer surplus:

= consumer surplus for Jung + consumer surplus for Eddie

= ($85 - $70) + $0

= $15

Eddie has zero consumer surplus because selling price is higher than his willingness price for the jacket.

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4 0
3 years ago
You have been given $100 to go school shopping. Identify how you would spend the money based on “needs” and “wants”.
zhuklara [117]
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4 0
3 years ago
Read 2 more answers
What most directly explains the boost in production of mccormick reapers?.
marishachu [46]

The adoption of interchangeable parts is the statement that directly explains the boost in production of mccormick reaper.

<h3>What is mccormick reaper?</h3>

The mccormick reaper is a mechanical mechanism that was created by Cyrus McCormick for farmers to harvest crops mechanically.

In conclusion, the adoption of interchangeable parts is the statement that directly explains the boost in production of mccormick reaper.

Read more about mccormick reaper

<em>brainly.com/question/487638</em>

7 0
2 years ago
A firm that is committed to keeping manufacturing facilities in only the home country (and not developing multiple production si
Mnenie [13.5K]

Answer:

lessen the effect of exchange rate changes by sourcing from where input costs are low

Explanation:

4 0
3 years ago
A loan is being amortized by means of level monthly payments at an annual effective interest rate of 8%. The amount of principal
suter [353]

Answer:

d) 216

Explanation:

We need to equate the value of 12th payment and t^th payment through the below formula.

=> 1000*(1+8%)^[(t-12)/12] =3700

=> (1.08)^[(t-12)/12] =3.7

=> [(t-12)/12] =17

=> t=216

4 0
3 years ago
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