Answer:
so maximum amount that consumers are willing to pay for the quantity demanded at this price = $168
Explanation:
given data
Q = 20 - P
P = $8
to find out
maximum amount that consumers are willing to pay for the quantity demanded at this price
solution
we get here demand at current market price that is
Q = 20 - P
Q = 20 - 8
Q = 12
and Total expenditure incurred will be at at current market price will be
Total expenditure incurred = Price × Quantity ..................1
Total expenditure incurred = $8 × 12
Total expenditure incurred = $96
and
we get price when Q = 0
Q = 20 - P
P = 20
so now consumer surplus will be here as
consumer surplus = 0.5 × ( Price when(Q = 0) - Current market price) × Quantity ............................2
put her value we get
consumer surplus = 0.5 × ( 20 - 8 ) × 12
consumer surplus = $72
and
now we get maximum amount that is
maximum amount = Current expenditure + Consumer surplus
maximum amount = $96 + $72
maximum amount = $168
so maximum amount that consumers are willing to pay for the quantity demanded at this price = $168
Answer:
Her new balance is $395.34
Explanation:
You take the starting balance of $584.77 and subtract it by the amount spent which was $189.43. Which gives you $395.34
Answer:
15
Explanation:
165 divided by 11 is 15. For any number over 10 that you divide by 11, you can ignore the middle number and take the digit in the hundreds place and the digit in the ones place.
Answer:
The correct option is D, be concise
Explanation:
Being concise means that the presenter is being asked to achieve two opposing objectives of using few words as much as possible as well as being comprehensive enough such that the audience understand the topic appropriately.
Conciseness in actual terms, is required because the audience are not trained finance professionals and would not be able to comprehend professional terminologies.