Answer:
$250
This because out of the total surplus, the surplus left after being received by the consumer goes to the producer.
Explanation:
Data provided in the question:
Price of tomato = $10
Equilibrium quantity = 50 tomatoes
Consumer surplus = $400
Total surplus = $650
Now,
The producer surplus = Total surplus - Consumer surplus
= $650 - $400
= $250
This because out of the total surplus, the surplus left after being received by the consumer goes to the producer.
B.when you take a loan out for something the faster you pay it off the less interest you have to pay
Answer:
It will take 3 years to have enough money to purchase the car.
Explanation:
We can use either Compounding or Discounting Formula to determine the time it will take to make $19,970 from $15,000 when the investment rate is 10%. Lets go with the Compounding Formula:
Future Value = Present Value * (1 + i) ^ n
<u>Re-arrange equation for "n" which is the Time Period:</u>
⇒ FV / PV = (1 + i) ^ n
Taking log on both sides;
⇒ log (FV / PV) = log (1 + i) ^ n
OR log (FV / PV) = n log (1 + i)
OR n = log (FV / PV) / log (1 + i)
Simply put values now;
⇒ n = log (19,970 / 15,000) / log (1 + 10%) = log (1.33) / log (1.1) = .12 / .04
OR n = 3
Answer:
Today, the Chinese own Armour and the famous Smithfield hams, together with the most quintessential American brand of all: Nathan's Famous hot dogs, with its iconic annual eating contest. ... It remains the largest total acquisition of a U.S. company by the Chinese.
Explanation:
Answer:
The correct answer is option c.
Explanation:
The only kind of market structure where the price is set by market forces and not the firms is pure competition. The firms in other market structures such as oligopoly, monopoly and monopolistic competition are price setters.
The market for wheat is a pure competition as there is a large number of sellers who are producing identical products. The firms are price takers and the price is determined by market forces.
