1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Butoxors [25]
2 years ago
7

uppose that a customer's willingness to pay for a product is $120, and the seller's willingness to sell is $110. If the negotiat

ed price is $119: consumer surplus is negative. consumer surplus is greater than producer surplus. producer surplus is negative. producer surplus is greater than consumer surplus.
Business
1 answer:
vesna_86 [32]2 years ago
3 0

Answer:

producer surplus is greater than consumer surplus.

Explanation:

Consumer surplus is the difference between the willingness to pay of a consumer and the price of the product.

Consumer surplus = willingness to pay - price of the product

$120 - $119 = $1

Producer surplus is the difference between the price of a product and the least price the seller is willing to sell his product.

Producer surplus = price - least price the seller is willing to sell his product.

$119 - $110 = $9

From the calculation, producer surplus is greater than consumer surplus.

I hope my answer helps you

You might be interested in
The Nelson Company has $1,312,500 in current assets and $525,000 in current liabilities. Its initial inventory level is $380,000
Sedbober [7]

Answer:

company can value of $190909.1

Explanation:

Given data:

current assets = $1,312,500

current liabilities =  $525,000

initial inventory level is $380,000

current ratio = 2.2

current liabilities is calculated as = \frac{Current/ Assets}{current/ ratio}

plugging all value  in above relation

current liabilities= \frac{1312500}{2.2}

current liabilities = $ 596590.90

and we know  current liabilities is  $525,000. Thus company can value of $190909.1

8 0
2 years ago
Prepare journal entries for each transaction listed. (If no entry is required for a transaction/event, select "No Journal Entry
AysviL [449]

Answer:

The journal entries are shown below:

Explanation:

According to the scenario, the journal entries for the given data are as follows:

(1). Jun.30   Bad Debt expense A/c Dr $12,800

                   To Allowance for Doubtful A/c $12,800

                    (Being the bad debt expense is recorded)

(2). July       Allowance for Doubtful A/c Dr $6,400

                   To Accounts Receivable A/c $6,400

                    (Being the customer balance written off is recorded)

7 0
3 years ago
What is the maximum price that government allows sellers to charge
oksian1 [2.3K]
I think it's called a price ceiling. At least, that's what I think it is.
4 0
3 years ago
When designing a case management solution to increase agent productivity, which service cloud features should you consider first
ch4aika [34]
<span>You should consider "Case queues" and "Case assignment rules" first w</span><span>hen designing a case management solution to increase agent productivity.

In order to design a case management solution, distinguish what client undertakings are expected to achieve the principle client objective. Choose what business level assignments and steps you need, and afterward assemble those undertakings and steps into a case.
</span>
8 0
3 years ago
Using the allowance method, is bad debt expense recognized in
mezya [45]

Using the allowance method, is bad debt expense recognized in the period in which sales related to the uncollectible account are made.

One of the most typical types of bad debt is credit card debt. Lenders issue credit cards, which let you make purchases on credit. These credit cards frequently have exorbitant interest rates that can soon become out of control.

Bad debt costs are typically listed on the income statement as a sales and general administrative expenditure. Accounts receivable on the balance sheet are reduced when bad debts are recognized, but firms still have the right to collect money if the situation changes.

Learn more about bad debts here

brainly.com/question/24871617

#SPJ4

3 0
1 year ago
Other questions:
  • How do you juggle being a student and being an entrepreneur?
    15·1 answer
  • If you've been a victim of identity theft, what should you do after contacting the company that reported the suspicious charge a
    12·1 answer
  • Your supervisor has come to you with the following list of expenditures for the year and is asking you whether they should be ca
    7·2 answers
  • Alex works for a technology company. He also writes articles for his local newspaper's Web site on a contract basis. Which forms
    11·1 answer
  • Corporate bond A has a 6 percent coupon and matures in 3 years. Corporate bond B has a 6 percent coupon and matures in 15 years.
    6·1 answer
  • The "Fashion Place" carries a carefully selected and distinctive assortment of traditional women's
    11·1 answer
  • On December 31, 2021 Sun Devils Company has outstanding bonds payable with a face value of $700,000, discount on bonds payable o
    14·1 answer
  • Contracts are typically private agreements in that they bind the two parties and no one else. Thus, parties not in privity of co
    11·1 answer
  • Which part of the economy is represented by box C on the circular flow
    15·1 answer
  • If the price is raised to $7, what would be the result in the market place? (Surplus, Shortage, or Equilibrium).
    10·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!