All categories

3 years ago

In an unregulated, competitive market consumer surplus exists because:___________.

Business

1 answer:

Paha777 [63]3 years ago

4 0

Answer: some consumers are willing to pay more than the equilibrium price.

Explanation:

Consumer Surplus is simply the difference between the price that is paid by a consumer and the price that the consumer was willing to pay in the first place.

In an unregulated, competitive market consumer surplus exists because some

consumers are willing to pay more than the equilibrium price.

You might be interested in

Waymire Company sells a motor that carries a 60-day unconditional warranty against product failure. From prior years' experience

MA_775_DIABLO [31]

Answer: Income statement $100,000

Balance sheet warranty liability $Nill

Explanation:

Since we are at the end of the period and all activities has been concluded with no expectation of claim of repairs. The firm will only record the cost incurred for current period on repairs which is $100,00 ( $100*1000) . The liability will be zero since the company has taken care of all repairs for the period.

3 0

3 years ago

You just won the Powerball and are offered two payment options: 1) Receiving $80 million per year for 25 years beginning at next

laila [671]

Answer: $80 million per year for 25 years

Explanation:

The option you should choose is one that will guarantee you the highest present value.

This means that you need to discount the annual payment of $80 million per year for 25 years to find the present value. As you did not include a rate, we shall assume a rate of 8% for reference purposes.

The annual payment is an annuity so the present value can be calculated by:

Present value of annuity = Annuity payment * Present value interest factor, rate, no. of years

= 80,000,000 * Present value interest factor, 8%, 25 years

= 80,000,000 * 10.6748

= $‭853,984,000‬

<em>The present value of the annual payment is more than the present value of the $850 million received today so the Annual payment should be taken. </em>

7 0

3 years ago

Click this link to view O*NET’s Education section for Municipal Clerks. According to O*NET, what are the top two most common lev

Ghella [55]

Answer:

2 and 4

Explanation:

Did edunity 2020

5 0

3 years ago

Read 2 more answers

Prepare journal entries for Buffalo to record (1) the sale on March 10, 2020, (2) the return on March 25, 2020, and (3) any adju

Nataly_w [17]

Answer:

1) Debit Account Receivable/Bank Account - Sales Amount

Credit Sales Account - Sales amount

Credit Inventory Account - Cost of the product

Debit Cost of Sales - Cost of the product

2) Debit Sales Account - Sales Amount

Credit Cost of Sales - cost of the product

Credit Account Receivable/ Bank - Refund Amount

Debit Inventory Account- Cost of the product

a)Any increase in returns over estimate

Debit Sales Account - Difference in sales Value

Credit Cost of Sales - Difference in cost of the product

Credit Account Receivable/ Bank - Difference Refund Amount

Debit Inventory Account- Difference in Cost of the product

b) Any Decrease in returns over estimate

Debit Sales Account - Decrease in Sales Amount

Credit Cost of Sales - Decrease in cost of the product

Credit Account Receivable/ Bank - Decrease in refund Amount

Debit Inventory Account- Decrease Cost of the product

Explanation:

8 0

3 years ago

Read 2 more answers

Rina is training for a triathlon, a timed race that combines swimming, biking, and running. Consider the following sentence: Rin

White raven [17]

Answer:

The answer is: B) People face trade-offs

Explanation:

A trade-off happens when you have to balance two (or three in this case) opposing situations.

Rina has to decide how to divide the time she can spend training. If she chooses to do one activity, she can´t do the other. So she has to balance the time spent on each activity, probably depending on which sport she needs to train the most.

8 0

3 years ago