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dlinn [17]
3 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]3 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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Consider a corrupt provincial government in which each housing inspector examines two newly built structures each week. All the
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Answer:

a) If bribes cost $1,000 each, how much will a housing inspector make each year in bribes?

So, if the corrupt inspector approves two newly built structures each week, ti means that he is bribed twice per week. There are 52 weeks in a year, so he gets a total of 104 bribes (52 x 2). If each bribe costs $1,000, then he makes a total of: $1,000 x 104 = $104,000 in bribes per year.

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Answer:

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