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storchak [24]
4 years ago
9

What is consumer surplus? Using real-world data, what information would you need to measure consumer surplus for a product?

Business
1 answer:
Marina86 [1]4 years ago
7 0

Answer:

Consumer surplus is a degree of welfare that people gain from consuming goods and services  in a free market.

The informatio needed is the market price of the good or service, and the amount of good consumed. Is necessary too information about the demand curve.

Explanation:

In a free market are millions of consumers that has different preferences for good and services. Some of them are willing to pay more or less than the market price. The consumer surplus is the welfare produced by the lower price that consumers that are willing to pay more, actually pay.

For this analysis is required the demand function, the market price and the equilibrium quantities.

Example: if I love apples, and I'm willing to pay 5 dollars for a kilo, but in the fruit market the price of a kilo is 1 dollar, the market conditions offer a welfare situation where I pay less for something I actually value more.

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When you organize an analytical report indirectly, in what order should the ideas be presented?
shusha [124]
The answer is D the indirect strategy does not allow a set order of ideas
4 0
3 years ago
If a tree grew more than 3 feet during the year, how much more likely is it that the tree was at most 50 yards from the river?
KiRa [710]

To answer the problem, we are first to convert the measurement given in yards to feet using the appropriate dimensional analysis.

<span>                                = (50 yards) x (3 ft / 1 yard) = 150 ft</span>

We divide the calculated value by the given rate,

<span>                              n = 150 ft / (3 ft/year) = 50 years</span>

<span>Therefore, it will 50 years for the tree to grow 150 ft. </span>
8 0
3 years ago
Read 2 more answers
You need to resolve a disagreement between two subordinates who want to take their vacation at the same time, but you need one o
BigorU [14]

You need to send email and schedule a meeting to handle this disagreement.

<h3><u>How to handle such disagreements ?</u></h3>
  • In the business sector, conflict resolution is essential since it helps to distinguish between excellent and poor companies. What procedures should you use as a business owner to resolve a dispute?
  • The points you can follow are:
  • 1. Identify the conflict's root cause.
  • 2. Go somewhere private and safe to discuss.
  • 3. Actively listen to what everyone has to say.
  • 4. Examine the problem.
  • 5. Find solutions to achieve the shared objective.
  • 6. Determine the appropriate course of action and the roles that each party must play in the resolution.
  • 7. Assess the situation and determine future preventive measures.
  • Everyday conflict is a part of life. With your family, friends, or coworkers, you may disagree. However, there are a number of dispute resolution techniques you may use to make sure this problem is insurmountable.
  • The achievement of corporate goals depends on managing and resolving conflict at work. Therefore, if there are any issues or conflicts between your employers, search for the best approaches to handle the matter.

To view similar question on handling disagreement, refer to:

brainly.com/question/12752561

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3 0
2 years ago
Which of the following are residents of rich countries likely to have in greater quantities, or better quality, than residents o
icang [17]

Answer:

(D) All of the above

Explanation:

Residents of rich countries are likely to have housing, healthcare and life expectancy in bigger quantities and better quality than residents of poor countries

3 0
4 years ago
Let's break it down into more technical terms, Demand work like this, it is the prices that the consumers are willing and able t
kiruha [24]

Answer:

-Income of buyers

-Consumer expectation

-Taste of consumers

-Price of the goods or services

-Price of related goods or services

Explanation:

Income of buyers: When there is a rise in income of buyer then demand would increase. Also when there is a fall in buyer's income, demand would decrease.

Consumer expectation: If consumers perceive that there would likely be an amount increase in price of certain commodities then demand for such commodities would increase now.

Taste of consumers: If the taste, preference or emotions of buyers changes in favour of a product then there would be increase in demand for such product and vice versa.

Price of the goods or services: The higher the price of a product, the lower the quantity demanded and the lower the price, the higher the quantity demanded.

Price of related goods or services: When there is an increase in the price of goods that are related, demand for the goods with lower price will increase

5 0
3 years ago
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