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aleksklad [387]
3 years ago
14

Tom is a junk remover who occasionally finds rare antiques to sell. He uses an online auction site to sell each antique for the

highest possible price customers are willing to pay. Tom is engaging in _____, and this leads to _____ consumer surplus.a) perfect price discrimination; very highb) perfect price discrimination; zeroc) imperfect price discrimination; very highd) imperfect price discrimination; zero
Business
1 answer:
Hunter-Best [27]3 years ago
4 0

Answer:

Option (b) is correct.

Explanation:

There are three types of price discrimination:

(i) First degree price discrimination or Perfect price discrimination

(ii) Second degree price discrimination

(iii) Third degree price discrimination

Perfect price discrimination refers to a situation in which the selling price of the product is equal to the price that a consumer willingness to pay for the product. This is a situation in which there is no consumer surplus.

Consumer surplus = Actual price paid by the consumer - Willingness to pay for the product

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5. Todd has his home and personal property insured under a Homeowners 3 (special form) policy. The dwelling is insured for $120,
Fantom [35]

Answer:

Explanation:

a). The highest point of the house was hurt. It will be made sure about under Part A . The most outrageous proportion of game plan is $120,000. The cash estimation of hardship is $10,000. In this manner, the dollar whole receivable for adversity is $10,000.  

b). The damage of window of the parlor will be made sure about under Part A course of action. The cash estimation of the damages is $400. From this time forward, the dollar proportion of mishap payable is $400.  

c). The damages on account of impact of water radiator will be made sure about under Part C, singular property hurt. The most outrageous proportion of hardship will be half of inclusion A. The most extraordinary proportion of consideration will be $60,000 (half of $120,000). In any case, the genuine cash estimation of the incident is $2,000. In this way, the dollar proportion of setback will be $2,000

3 0
3 years ago
Read 2 more answers
Typing resources allows managers to make better resource ordering decisions by:
SVETLANKA909090 [29]
Typing resources allows managers to make better resource ordering decisions by describing the size, capability, and staffing qualifications of a specific resource.
7 0
3 years ago
Carmel Corporation is considering the purchase of a machine costing $41,000 with a 8-year useful life and no salvage value. Carm
Andru [333]

Answer:

E. $20,500

Explanation:

The average investment is defined as the average between the initial investment and the salvage value of the equipment.

In this situation, Carmel Corporation had an initial investment of $41,000 for the machine and its salvage value is zero. Therefore, Carmel's average investment is:

AI = \frac{\$41,000+0}{2} \\AI = \$20,500

The answer is alternative E. $20,500

3 0
3 years ago
Ted purchased an annuity today that will pay $1,000 a month for five years. He received his first monthly payment today. Allison
victus00 [196]

Answer:

The correct option is E,Ted's annuity has a higher present value than Allison's

Explanation:

Both annuities do not have equal amount today as $1000 received today is higher in value terms than $1000 receivable in a month's time since cash receivable earlier is much more valued than the one receivable later.

Ted's annuity is an  annuity due not an ordinary annuity

Allison's annuity is an ordinary annuity not annuity due

Allison's annuity has a lower present value than Ted's and not the other way round.

The only correct statement is option E,since Ted is expected to receive $1000 today, his annuity has a higher present value compared to Allison's

7 0
3 years ago
Straight-Line Depreciation Irons Delivery Inc. purchased a new delivery truck for $42,000 on January 1, 2019. The truck is expec
Ket [755]

Answer:

Annual depreciation= $7,996

Explanation:

Giving the following information:

Purchase price= $42,000

Useful life= 5 years

Salvage value= $2,020

<u>To calculate the annual depreciation under the straight-line method, we need to use the following formula:</u>

Annual depreciation= (original cost - salvage value)/estimated life (years)

Annual depreciation= (42,000 - 2,020) / 5

Annual depreciation= $7,996

5 0
3 years ago
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