Answer:
$5
Explanation:
Consumer surplus is defined as the difference between the highest amount a consumer is willing to pay for a product and the amount the consumer actually pays for the product.
Consumer surplus = willingness to pay - market price
The willingness to pay is the highest amount a consumer would be willing to pay for the purchase of a good or service. It is the value a consumer places on a product.
Before the tax, Ken's consumer surplus = $20 - $15 = $5
Before the tax, Mark's consumer surplus = $17 - $15 = $2
Total consumer surplus- $2 +$5 = $7
After the tax, ken's consumer surplus =$20-$16=$4
After the tax, Mark's consumer surplus = $17 - $16 = $1
Total consumer surplus- $4 + $1 = $5
Answer:
To hold home prices down, we need to increase elasticity of supply.An inelastic supply is one that cant change quickly to adapt to market changes. An elastic supply in housing means there are house to spare when market demand increases. In an attempt to create an elastic supply in housing, increase spare capacity can be worked on. Reduction in Tax rate for developers and shortening permit processes for building new homes would definitely create additional housing for purchase. To increase elasticity, we must supporting inventories of raw materials. The Lumber and concrete suppliers can be ensure to receive concessions to encourage them to supply additional raw materials.
Answer:
$128
Explanation:
The FIFO inventory system means first in , first out. It means that it is the first purchased inventory that is the first to be sold.
Under the perpetual system, the cost of goods sold Under the FIFO system would be taken from the most recent inventory purchase prior to the sale.
The most recent inventory purchase prior to the sale occurred on the 17th. The price at which the inventory was purchased on the 17th would be used to calculate the cost of goods sold
So the cost of goods sold = $16.00 × 8 = $128
I hope my answer helps you
The answer to the question above is NONE, there is no method(s) of distributing goods and services that satisfies all wants of the people. Wants are in constants change and infinite due to change of demands. Satisfaction of human wants are limited to the amount of natural and human resources availability.
Answer:C - Agile
Explanation: Agile is an iterative approach to software development and project management and it helps teams deliver value to their customers faster and with fewer itches.
Agile is a group of methodologies that demonstrate a commitment to tight feedback cycles and continuous improvement. It is a combination of iterative and incremental process models with focus on process adaptability and customer satisfaction by rapid delivery of working software product
Agile requirements, plans and results are evaluated continuously so teams have a natural mechanism for responding to change quickly.