Answer:
The consumer surplus is $25 and producer surplus of $5
Explanation:
Consumer surplus is the difference between the price the customer is willing to pay and the market price of a product. In the attached diagram it is represented on the demand supply graph as the portion between equillibrum price and demand curve.
Consumer surplus= 175- 150= $25
The producer surplus is difference between market price of a product and the amount a seller is willing to sell. On the demand and supply graph it is the area between equillibrum and supply as seen in the diagram.
Producer surplus= 150- 145= $5
Explanation:
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A tax on automobiles imported into the United States that raises prices on imported vehicles to make the price of cars produced in the United States more competitive is a Protective Tax; a tax on all oil imported into the United States, which is implemented to raise money for the U.S. government, is a Revenue tariff.
Explanation:
The protective tax levied by the Federal Government aims at attracting the US citizens to buy the cars manufactured by the local automobile industries. It can also ensure the quality of goods which cannot be compromised with the car manufactured with the raw materials imported from the neighboring country like Mexico.
Import tariffs are included in the Revenue tariff. Such Revenue tariff are collected through the trade of imported oil all used for raising revenue which can also be used for social welfare purposes and also paves the way for boosting oil firms in the US regions.
The followers is the component that have the highest percentage of executives in the Williams and Miller's decision-making styles.
<h3>What is a decision-making style?</h3>
A decision-making style forms an important element in a firm because its helps them have model on how to make decision that best favors the firm.
In conclusion, the followers is the component that have the highest percentage of executives as they forms the highest population in a firms' hierarchy.
Read more about decision-making style
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