Answer:
$13
$9
Explanation:
Total surplus is the sum of consumer surplus and producer surplus.
Consumer surplus is the difference between the willingness to pay of a consumer and the price he pays for the good.
Consumer surplus = willingness to pay - price of the good
Producer surplus is the difference between the least amount a seller is willing to sell his product and the price he sells the product.
Producer surplus = price of the good - least price the seller is willing to sell his product
Total surplus = consumer surplus + producer surplus
Total surplus = willingness to pay - price of the good + price of the good - least price the seller is willing to sell his product
Prices cancel out
Total surplus = willingness to pay - least price the seller is willing to sell his product
A. Total surplus = $18 - $5 = $13
B. Total surplus = $16 - $7 = $9
I hope my answer helps you
The competitive environment and consideration set themselves are further quantitative metrics of brand awareness. You can accomplish this by outlining your brand and the brands of your rivals, then asking people to rate their familiarity with each brand on a qualitative scale ranging from "well known" to "totally unknown."
<h2>What is the role of quantitative research?</h2>
- Quantitative research is beneficial since it offers precise numbers for comparison and referencing. We occasionally collaborate with Research, a California-based market research company, to assist us in designing and putting into practice quantitative research tactics since we have faith in their knowledge in this field.
- We can confidently identify trends, quantify feelings and behaviors, and comprehend the perception of a destination brand based on information from a representative sample of the area's population by conducting statistically accurate, multi-modal surveys (or a regional population if doing competitive or key market research).
<h2>What is the role of qualitative research?</h2>
- Comparatively, qualitative research is far more subtle. Instead of stating an actual reality, it "summarizes and infers." Qualitative research sheds light on the history of your brand and the people it stands for, while quantitative research serves the purpose of giving you the hard data you need to support your decisions.
Learn more about Qualitative research at <u><em>brainly.com/question/13498255?referrer=searchResults</em></u>
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