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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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A cone-shaped container has a height of 9 inches and diameter of 2 inches. It is filled with a liquid that is worth $2 per cubic
IRISSAK [1]

Answer:

$18.84

Explanation:

Firstly, we need to find the volume of the solid shape. We have identified the solid shape to be a cone.

The volume of a cone is v = 1/3 π r^2 h

Here π = 3.14, r = d/2 = 2/2 = 1 inch and h = 9 inches

V = 1/3 * 3.14 * 1 * 1 * 9 = 9.42 cube.inches

Total value of liquid in the container is thus 9.42 * $2 = $18.84

4 0
4 years ago
Shasta Company is trying to decide whether to continue to manufacture a particular component or to buy the component from an out
Dafna11 [192]

Answer:

D

Explanation:

Unavoidable fixed manufacturing cost is irrelevant as to Shasta Company’s decision to Make or Buy that particular component. It is because, either of their decision, said expense will still incur and it is still form part of their expenses. The only things that will matter to their decision making if that certain expenses will cause changes (decrease in particular) of the potential cost to be incurred by the company that will result to increment their income.

8 0
3 years ago
Nissley Wedding Fantasy Corporation makes very elaborate wedding cakes to order. The owner of the company has provided the follo
Lena [83]

Answer:

$230.02

Explanation:

Calculation for what amount would the company have to charge for the Tijerina wedding cake to just break even

Size related $69.16

($1.33 per guest × 52 guests)

Complexity-related $56.84

($28.42 per tier × 2 tiers)

Order-related $74.72

($74.92 per order × 1 order)

Cost of purchased decorations for cake $29.30

Total cost $230.02

($69.16+$56.84+$74.72+$29.30)

The amount that the company would have to charge for the Tijerina wedding cake to just break even will be $230.02

3 0
3 years ago
The business was started when the company received $48,500 from the issue of common stock. Purchased equipment inventory of $176
masya89 [10]

Answer:

Total current liabilities  85.008,33‬

Explanation:

current liabilities: obligations that will setlte within a one-year period

<em />

<em>accounts payable</em> from the purchase of equipment:

cost:          176,500

paid:      <u>  (125,900)  </u>

balance:    50,600

<em />

<em>waranty liaiblity:</em>

191,000 x 5% = 9,550

<em>sales tax payable:</em>

sales for     191,000

paid for   <u>  (141,000)  </u>

unpaid for  50,000 x 6% = 3,000

<em>note payable</em> with a local bank:

principal:   21,500

accrued interest: 21,500 x 5% x 1/3 = 358,33

net:   21,858.33

<u>Total current liabilities:</u>

accounts payables 50,600

warrant liability:        9,550

sales tax payable:    3,000

note payable:     <u>    21,858.33   </u>

                             85.008,33‬

5 0
3 years ago
A balanced scorecard for measuring company performance: Select one: a. Balances the drive for profits with social responsibility
Aleks04 [339]

Answer:

b. Entails striking a balance between financial objectives and strategic objectives

Explanation:

The balance score card is the score card that reflects the performance trend from which the organization will be able to take the acts, decisions accordingly.

This may implement measures for financial as well as strategic. The financial could be in terms of income, past performance, solvency, equity, repayment, etc. While the strategic could be in terms of objectives, setting targets and goals so that the business organisation could able to achieve within their prescribed time

4 0
4 years ago
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