Answer:
D) not able to be calculated from the information given.
Explanation:
Consumer surplus is the difference between willingness to pay of a consumer and the price actually paid for a good or service. 
The price paid by Smith is $205,000 but there's no information on the willingness to pay of Smith. Therefore, the consumer surplus can't be calculated. 
I hope my answer helps you. 
 
        
             
        
        
        
You can evaluate the credibility of a source by looking at: 
- The author: if an article doesn't list an author, this is a red flag
- The date: Research and news needs to up-to-date in order to be the most accurate 
- Sources: Credible articles will cite the sources that they used. 
-Domain: .com and .org sites can be purchased by normal people and their information may or may not be credible. .edu sites are educational and .gov sites are operated by the government. These sites are typically credible sources of information
-Design and style: look to see if the site is organized in a professional manner and is free from spelling and grammar errors 
 
        
             
        
        
        
Answer:
-4 units
Explanation:
Using the midpoint method, Blake's income elasticity of demand for generic potato chips is given by the change in demand (D) multiplied by his average income (I), divided by the change in income multiplied by the average demand:

Blake's income elasticity of demand is -4 units.
 
        
             
        
        
        
Answer:
5.79 times
Explanation:
The computation of the Accounts receivable turnover ratio  
= Credit sales ÷ average accounts receivable
where,  
Average accounts receivable = (Opening balance of Accounts receivable + ending balance of Accounts receivable) ÷ 2
= ($46,400 + $49,700) ÷ 2
= $48,050
And, the net credit sale is $278,000
Now put these values to the above formula  
So, the answer would be equal to  
= $278,000 ÷ $48,050
= 5.79 times
 
        
             
        
        
        
Answer:
Adjusted Bank Balance = $85,000
Explanation:
Adjustment of bank balance is a bank reconciliation procedure, that is used to match the amount in the bank statement with the amount in the company's balance sheet.
To adjust the bank balance, particulars that need to be subtracted or added to the bank statement balance has to be identified and treated accordingly.
For this example, the adjusted balance is calculated thus:
Adjusted bank balance = (Bank statement balance) - (outstanding checks) +(deposit in transit)
Adjusted Bank Balance = 78,000 - 2,400 + 9,400 = $85,000
Note:
outstanding checks are subtracted because they are payments to be made made by the company, representing a liability to the company (payer)
deposit in transit is an income to the company that has not been credited yet, but that will be credited.