The price a firm charges for a good or service is typically less than the value placed on that good or service by the customer. This is because the customer captures some of that value in the form of what economists call a consumer surplus.
Purchaser surplus measures the gain to buyers from participating in a marketplace. Its miles are measured as the quantity a consumer is willing to pay for an amazing minus the quantity a customer without a doubt can pay for it.
If markets were now not aggressive, the purchaser surplus would be less and there would be more inequality. A lower customer surplus results in better producer surplus and extra inequality. Client surplus allows consumers to purchase a much wider preference of goods.
The customer surplus refers back to the difference between what a consumer is inclined to pay and what they paid for a product. The manufacturer surplus is the difference between the marketplace rate and the bottom fee a manufacturer is willing to just accept to supply an awesome.
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Answer:Explanation:
simple problems
a. it could bring about issues of traffic congestion
b. it could also cause pollution problems in the area.
intermediate problem
a. the car manufacturer may not be allowed to site such a project of large scale as this in the region
b. the region may not be an economiCally favourable place. the car manufacturer has to check this before going ahead.
complex problem
a. getting suitable workforce with required skills to work
b. Getting storage space for vehicles that have been manufactured.
Answer: The equilibrium rate of interest in the market for money is determined by the intersection of the supply of money curve and the total demand for money curve.
Explanation: To determine the equilibrium rate of interest, it's necessary to study where the supply and demand curve points intersect. When supply and demand are equal, equilibrium has been achieved.
Answer:
The correct answer is letter "C": conducting business in a way that protects the natural environment while making economic progress.
Explanation:
Sustainable development is the capacity an institution has to satisfy individuals' needs without damaging the environment neither harming the atmosphere. To reach this stage there must be an equilibrium between the <em>economy, society, </em>and <em>the environment.</em> Sustainable development is difficult to be obtained with high poverty rates, habitats destruction, or indiscriminately resources exploitation.
Answer:
A. $68,200
Explanation:
Retail Cost
Beginning inventory $60,000
$120,000
Plus: Net purchases. $312,000
$480,000
Goods available for sale $372,000
$600,000
Cost to retail percentage = $372,000 ÷ $600,000 = 62%
Less : Net sales
($490,000)
Estimated ending inventory at retail
$110,000
Estimated ending inventory at cost
62% × $110,000 = $68,200
