Answer:
2) Set the price of each piece of furniture equal to the marginal cost of producing it.
Explanation:
What happens in two-part tariff is that the producer recovers the entire cost of producing by charging price equal to the marginal cost.
This helps him recover cost and the entire fee the producer charges results in profits eventually. Hence, the profits is the consumer 'surplus' that we calculate given that the price of product is equal to marginal cost.
So answer here is 2- Set the price of each piece of furniture equal to the marginal cost of producing it.
Answer:
equity:
-He cuts the pie into eight equal slices.
-He cuts the pie into many slices so that everyone gets a piece.
Efficiency:
-He lets one person eat the whole pie.
-He makes sure that the whole pie is eaten.
Explanation:
Equity deals with distribution i.e to ensure things are equally distributed
While
Efficiency is trying to make sure things are completely used up i.e act of preventing waste
In addition to the consumer product safety commission, the two federal agencies that play the most active role in protecting the public from unsafe products are the Treasury Department, the Commerce Department, and the Office of the U.S. Trade Representative.
The U.S. Consumer Product Safety Commission is an independent federal regulatory agency that was created by Congress in the Consumer Product Safety Act. The Consumer Product Safety Commission protects the public from unreasonable risks of serious injury or death from thousands of types of consumer products under its jurisdiction, including products that pose a fire, electrical, chemical, or mechanical hazard or can injure children.
Enforcing standards and issuing recalls or repair orders when necessary. Conducting independent research on potential hazards. Responding to consumer inquiries and complaints regarding specific products.
Learn more about federal agencies there:- brainly.com/question/9354369
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