Answer:
a
Life
Explanation:
Life insurance is a contract where the insurance company undertakes to pay the amount stated in the policy document upon the insured's death. The insured, in turn, pays periodic insurance premiums to keep the contract in force.
Life insurance renders financial protection to the family and the insured upon their death. For an entrepreneur, the insurance company will compensate their family for the loss of income occasioned by their death.
Answer:
The correct answer is C. the difference between the highest price a consumer is willing to pay and the price the consumer actually pays.
Explanation:
Consumer surplus arises from the law of diminishing returns. This means that the first unit to acquire we value it highly but as we acquire additional units our valuation falls. However, the price we pay for any unit is always the same: the market price. In this way, we enjoy a positive surplus of the first units we acquire until we reach the last one in which the surplus will be zero.
In graphic terms, consumer surplus is measured as the area below the market demand curve and above the price line. The demand curve measures the amount consumers are willing to pay for each unit consumed. Then, the total area below the demand curve reflects the total utility of consumption of the good or service. If the price we pay for each unit is subtracted from this area, the consumer surplus is obtained.
Answer:
The total cost per unit using the weighted average method would be:
$15,97
Explanation:
Materials Conversion Costs
Begining $ 14,000 $ 8,000
APRIL $ 72,000 $ 80,000
TOTAL $ 86,000 $ 88,000
Units 8,000 8,000
100% 50%
WIP 4,000 2,000
TOTAL 12,000 10,000
USD/Unit 7,17 8,80 $15,97
