Answer:
b. the total consumer surplus will be the area beneath the demand curve but above the current price of backpacks
Explanation:
A situation where there are many buyers in the backpack market indicates that the demand for this product is high, so the consumer surplus that will be received by the backpack manufacturer will depend on how much the consumer is willing to pay for the backpack, in which case Total consumer surplus will be the area below the demand curve, but above the current price of the backpacks.
ok
Answer:
In today's society, the use of social media has become a necessary daily activity. Social media is typically used for social interaction and access to news and information, and decision making. It is a valuable communication tool with others locally and worldwide, as well as to share, create, and spread information.
Biosphere is the part of the earth’s surface and atmosphere in which plants and animals can live
<h2>Hope it helps</h2>
Byee have a good day ahead
Answer:
Emily's opportunity cost of producing 1 milkshake is 1 ice cream sundae.
Ben's opportunity cost of producing 1 milkshake is 0.5 ice cream sundae.
Explanation:
Both Emily and Ben own an ice cream parlor.
In an hour Emily can produce 40 milkshakes or 40 ice cream sundaes.
Emily's opportunity cost of producing a milkshake is
= 
= 
= 1 ice cream sundae
In an hour Ben can produce 20 milkshakes or 10 ice cream sundaes.
Ben's opportunity cost of producing a milkshake is
= 
= 
= 0.5 ice cream sundae
We see that Ben has a lower opportunity cost of producing milkshake, so we can say that he has a comparative advantage in producing milkshake.