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dlinn [17]
4 years ago
5

Assume Fiona is willing to pay $8 for a pizza cutter. Tim also wants one, but is only willing to pay $6 for one. At a pizza bake

r's convention, Fiona buys the last pizza cutter at the market price just before Tim can buy it. Tim contacts the convention organizers and complains about missing out on the last pizza cutter. The organizers refund Fiona for the pizza cutter and allow Tim to buy it at the market price. What happens as a result of the organizers refund
Business
1 answer:
Delicious77 [7]4 years ago
7 0

Answer

The question is incomplete; assuming that the market price is $5.

The answer will be consumer surplus decreases.

Explanation:

Consumer surplus is a measure of consumer welfare. It is measured as the difference between what customers are willing and able to pay for a good  and the price they actually pay.      

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Write down the characteristics which had the highest poverty rate in 2016?
adoni [48]

Answer:

Follows are the solution to this question:

Explanation:

The poverty rate is the proportion of those whose income falls below the poverty line, as well as, the official poverty level of 2016 was 12.7% when half of the median family income for the overall population. Below are the highest poverty level features in 2016:

  • Desire to share exposure to food and clean water.
  • Entry to living standards or jobs is little to no.
  • Conflict.
  • The unfairness.
  • Wretched schooling.
  • The shift in the atmosphere.
  • Transportation deficit.
  • The government's limited capacity.
3 0
3 years ago
All Product concepts go through all six phases of the product development process.
lana [24]

The Answer is:

false

Hope I helped

4 0
3 years ago
Read 2 more answers
The following transactions are for Kingbird Company.1. On December 3, Kingbird Company sold $450,000 of merchandise to Blossom C
SpyIntel [72]

Answer:

Kingbird Company or Mack Company

Journal Entries:

Dec. 3:

Debit Accounts Receivable (Blossom Co.) $450,000

Credit Sales Revenue $450,000

To record the sale of goods on account, terms 1/10, n/30.

Debit Cost of Goods Sold $310,000

Credit Inventory Account $310,000

To record the cost of goods sold.

Dec. 8:

Debit Sales Allowance $22,000

Credit Accounts Receivable (Blossom Co.) $22,000

To record the allowance granted.

Dec. 13:

Debit Cash Account $423,720

Debit Cash Discount $4,280

Credit Accounts Receivable (Blossom Co.) $428,000

To record the settlement of account.

Explanation:

Journal entries are used to record transactions that occur on a daily basis.  They are usually the first set of records made in the accounting books.  They show the accounts to be debited and the accounts to be credited.  Each transaction is usually debited in one account and credited in another to reflect the double entry system of accounting and to keep the accounting equation in balance.

7 0
3 years ago
The basic economic cost of unemployment is forgone ______. Multiple choice question. inputs output supply labor
Elena L [17]

Forgone output is the fundamental economic cost of unemployment. So, output (option (b)) is the right choice.

<h3>Forgone labour output </h3>

Forgone labour output is the amount of money that persons would have made over the course of their remaining working lives, discounted to the current year if they had not passed away too soon. Forgone labour production, like other accounting metrics like the Gross Domestic Product (GDP), is not meant to represent a gauge of society's prosperity. This brings us to the welfare-based approach, which is the second method for estimating the costs of premature death.

The potential for the production of goods and services is lost forever when the economy fails to provide enough jobs for everyone who is able and willing to work.      

Learn more about Forgone labour output here:  

brainly.com/question/16690539    

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4 0
2 years ago
Rhed Kennel uses tenant-days as its measure of activity; an animal housed in the kennel for one day is counted as one tenant-day
REY [17]

Facility expenses in the flexible budget comes out to be $24,260.

<h3>What is flexible budged?</h3>

A flexible budget is one that is based on various sales volumes. For each projected level of production, the static budget is adjusted by a flexible budget. Due to this flexibility, management is able to predict how the budgeted figures will change as sales volume changes.

Calculation for the facility expenses in the flexible budget for December:

The table of the data used in budgeting: Fixed Element per Month Variable element per tenant-day Revenue is in attachment-

Facility expenses in the flexible budget = Variable + Fixed

                                                                  = (3650*4.40) + 8200

                                                                  = 16,060 + 8200

                                                                   = 24,260

The wages and salaries in the planning budget for December would be closest to $24,260.

To know more about the flexible budget, here

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6 0
2 years ago
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