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Tanzania [10]
2 years ago
11

For each of the scenarios, calculate the surplus and indicate if it is a producer surplus or a consumer surplus. Alice is willin

g to spend $30 on a pair of jeans, and has a coupon for $10 off which she found online. She selects and purchases a $35 pair of jeans which cost $35 pre-discount.
Business
1 answer:
elena-14-01-66 [18.8K]2 years ago
8 0

Answer:

Producer surplus.

Explanation:

Producer surplus is the difference between the price of a product they're willing to sell and the price they're gonna actually received. In this case she is willing to spend $30 + $10 coupon and she buys $35 pair of jeans.

So, she's only paying $30, that means seller is receiving $5 less.

Therefore, producer surplus is $5.

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each professor averages one publication per year and both are excellent teachers. given this information, the wage difference is
ludmilkaskok [199]

Answer:

Royalty

Explanation:

The difference in their earnings would be by the Royalty they receive from their publications. If the Royalty of one teachers publications is more than that person would be earning more.

Royalty is dealt through a different account called Royalty Account.

5 0
3 years ago
Preparing T-accounts (ledger) and a trial balance LO P2 Following are the transactions of a new company called Pose-for-Pics.
Taya2010 [7]

Answer:

<h2>Pose-for-Pics</h2>

a) T-Accounts:

Date    Description               Debit        Credit

Common Stock

Aug. 1  Cash                                           $6,500

           Photography Equipment           33,500

Aug. 31 Balance                $40,000

Date    Description               Debit        Credit

Cash Account

Aug. 1  Common Stock     $6,500

Aug. 2 Prepaid Insurance                     $2,100

Aug. 5 Office Supplies                            $880

Aug. 20 Fees Earned        $3,331

Aug. 31 Utilities                                       $675

Aug. 31 Balance                                    $6,176

Date    Description               Debit        Credit

Photography Equipment

Aug. 1  Common Stock   $33,500

Date    Description               Debit        Credit

Prepaid Insurance Account

Aug. 2  Cash                       $2,100

Date    Description               Debit        Credit

Office Supplies

Aug. 5  Cash                       $880

Date    Description               Debit        Credit

Fees Revenue

Aug. 20  Cash                                      $3,331

Date    Description               Debit        Credit

Utilities Expense

Aug. 31  Cash                       $675

b) Trial Balance as of August 31:

Accounts                     Debit       Credit

Cash                          $6,176

Photography Equip 33,500

Prepaid Insurance      2,100

Office Supplies             880

Utilities Expense           675

Common Stock                          $40,000

Fees Revenue                                 3,331

Total                       $43,331        $43,331

Explanation:

a) The Common Stock equals the cash and equipment contribution made by Madison Harris, the owner of Pose-for-Pics.

b) Pose-for-Pics' T-accounts are the general ledger accounts of the company.  They record the individual accounts' transactions for the accounting period, usually a month, which are summarized by the preparation of the trial balance as of month-end.

3 0
3 years ago
The manager of a carpet store is trying to determine the best installation crew size. he has tried various crew sizes with the r
RideAnS [48]
<span>I would recommend crews of two workers. This type of crew size is easier to manage and prevents cluster. The workers can watch each other's backs without having to worry about looking out for too many other workers. This way they can help each other without losing sight of their own work.</span>
8 0
3 years ago
If a nation has a comparative disadvantage in the production of some commodity: Group of answer choices it cannot gain from inte
vazorg [7]

Answer:

it can still gain from international trade in that commodity, by getting it at a lower opportunity cost than if it produced it domestically.

Explanation:

A country has comparative disadvantage in production if it produces at a higher opportunity cost when compared to other countries.

The country with a  comparative disadvantage can gain from trade by trading the good with a country that has  comparative advantage in the production of that good. i.e. the country produces at a lower opportunity cost

For example, country A produces 10kg of beans and 5kg of rice. Country B produces 5kg of beans and 10kg of rice.  

for country A,  

opportunity cost of producing beans = 5/10 = 0.5

opportunity cost of producing rice = 10/5 = 2

for country B,  

opportunity cost of producing rice = 5/10 = 0.5

opportunity cost of producing beans = 10/5 = 2

Country B has a comparative disadvantage in the production of beans and country A has a comparative disadvantage in the production of rice

Country B should buy beans from A and A should buy rice from B

7 0
2 years ago
A firm has actual sales in November of $1,000 and projected sales in December and January of $3,000 and $4,000, respectively. Th
Valentin [98]

Answer:

(B) $2,100

Explanation:

5 0
3 years ago
Read 2 more answers
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