1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Vaselesa [24]
3 years ago
12

Consumer surplus is: the difference between the price of a product and consumers' valuation of the last unit of the product purc

hased. the difference between the price of a product and what consumers were willing to pay for the product. the difference between the discounted price of a product and its retail price. the difference between the price paid by consumers and the price required of producers.
Business
1 answer:
Ipatiy [6.2K]3 years ago
8 0

Answer:

the difference between the price of a product and what consumers were willing to pay for the product.

Explanation:

Consumer surplus is the difference between the willingness to pay of a consumer and the price of the product.

For example, the highest amount I am willing to pay for a book is $20. The price of the book is $10. My consumer surplus is $20 - $10 = $10

Producer surplus is the difference between the least amount the seller is willing to sell his product and the price of the product.

I hope my answer helps you

You might be interested in
THREE government regulations that guides the establishment and operation of a business.
algol [13]
Labor, privacy, and health
4 0
3 years ago
A local business woman noticed that after she had paid all the costs of conducting her business that year a substantial amount o
otez555 [7]
That she had a successful year and paid a profit.
5 0
3 years ago
Read 2 more answers
Cho ví dụ môi trường kinh doanh ở các nước đầu tư
Snowcat [4.5K]

Answer:

???

Explanation:

3 0
3 years ago
"Jordan's Ice Creams is strategically located near a university. After realizing that most of its customers, who are mostly stud
iragen [17]

Answer:

B. Broad differentiation strategy

Explanation:

Broad differentiation strategy -

It refers to the method to strategize the business or the product in a very unique and innovative manner , is referred to as broad differentiation strategy .

The method is done by trying to adapt new method to present their goods and services , add new features , tries to relate to the likes and dislikes of the consumers .

The method is very helpful for a larger company than for smaller one .

The method is helpful to increase the production of the company , and thereby the profit of the company increases .

Hence , from the given scenario of the question ,

The correct answer is B. Broad differentiation strategy .

6 0
3 years ago
In the short run, the quantity of output that firms supply can deviate from the natural level of output if the ___________ level
Zielflug [23.3K]

Answer:

1.  Actual Price

2.  Misperceptions theory.

Explanation:

In the short run, the quantity of output that firms supply can deviate from the natural level of output if the ACTUAL PRICE level in the economy deviates from the expected price level. Several theories explain how this might happen.

For example, the MISPERCEPTIONS THEORY asserts that output prices adjust more quickly to changes in the price level than wages do, in part because of long-term wage contracts. Suppose a firm signs a contract agreeing to pay its workers $15 per hour for the next year, based on an expected price level of 100 Year.

The above explanations is the reason why the aggregate supply curve slopes upward in the short run

4 0
3 years ago
Other questions:
  • Jill and sam, recent graduates, are hired as computer analysts for hrj enterprises inc. in a conversation over lunch, jill disco
    7·1 answer
  • WHEN A TRAFFIC SIGNAL LIGHT IS NOT WORKING, YOU SHOULD:
    9·2 answers
  • Clarifying the issues of a problem is the _____ step in the problem solving process. first, second, sixth, or seventh
    14·2 answers
  • Why private limited companies in malaysia does not get listed in the stock exchange?​
    14·1 answer
  • When calculating the inventory turnover at cost, the first step is to calculate A. Cost of goods sold B. Average inventory at re
    6·2 answers
  • Many businesses today appear to have some type of corporate social responsibility edict. When might the need for social responsi
    10·1 answer
  • he following selected account balances appeared on the financial statements of Sanchez Company: Accounts Receivable, January 1 $
    10·1 answer
  • Dinosaur Junior Corporation purchased a one-year insurance policy in January 2013 for $60,000. The insurance policy goes into ef
    12·1 answer
  • Which the following consists of all the benefits a product will provide for consumers or business​ customers? A. Augmented produ
    11·1 answer
  • You are a business information expert and have been hired by the independent bookstore, Alexandria, to increase profits and effi
    8·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!