1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
s344n2d4d5 [400]
3 years ago
15

Andrew paid $30 to buy a potato cannon, a cylinder that shoots potatoes hundreds of feet. He was willing to pay $45. When Andrew

's friend Nick learns that Andrew bought a potato cannon, he asks Andrew if he will sell it for $60, and Andrew agrees, since he would have sold it for $45. Nick is thrilled, since he would have paid Andrew up to $80 for the cannon. Andrew is also delighted. What is the total surplus generated from Andrew’s sale to Nick?
Business
1 answer:
irinina [24]3 years ago
3 0

Answer:

The total surplus from Andrew's sale to Nick is $35.

Explanation:

The total surplus is the sum of producer surplus and consumer surplus.

The consumer surplus is the difference between the maximum price a consumer is willing to pay for a product and the price he/she actually has to pay.

While producer surplus is the difference between the minimum price a producer is willing to accept for a product and the price he/she actually gets.

Consumer surplus for Nick

= $80 - $60

= $20

Producer surplus for Andrew

= $60 - $45

= $15

Total surplus from generated from Andrew's sale to Nick

= $20 + $15

= $35

You might be interested in
Anyone wan na talk?????
valkas [14]

Answer:

Sure! What about?

Explanation:

3 0
2 years ago
Consideration of the firm's overall objectives does not influence the final selection of a target market segment.
AfilCa [17]
The above statement is FALSE.

<span>Consideration of the firm's overall objectives MUST BE DONE because it influences the final selection of a target market segment.

Target market segment is a strategy that outlines how and what will the business do to reach its intended customers. This is a strategy that will fulfill the company's short term goals as well as have a great impact on the firm's long term overall objectives as a business or company. </span>
3 0
3 years ago
If a CobbDouglas production function has alpha​ = 0.34 and beta​ = 0.42, then a​ 1% increase in inputs results in a​ ________ ch
vampirchik [111]

Answer:

0.76%

Explanation:

Firstly we write out the production function to be

Y = K^0.34L^0.42.

So if we have inputs that are increased by 1%, we will now have a new production function which is

Y = (K + 0.01 of K)^0.34 (L + 0.01 of L)^0.42

We write this in terms of growth rate

The Growth rate of Y = 0.34 x the growth rate of K + 0.42 x the growth rate of L

This gives us the Growth rate of Y = 0.34 x 1% + 0.42 x 1%

= 0.34+0.42

= 0.76%

6 0
2 years ago
7. Write at least two policies that a company could use to decide which customers to offer credit to. (1-2 sentences. 2.0 points
Bas_tet [7]

Answer:

Competition tribunal

Competition commission

Explanation:

They protect the rights of the customers

6 0
3 years ago
Employers must send the
Evgesh-ka [11]

Answer: Employers must send the  <u>W2 form</u> to the Internal Revenue Service (IRS) at the end of the year.

The Wage and Tax statement, more commonly known as the W2 form, must be filed by the employers with the IRS by 31st January, irrespective of whether it’s being filed manually (on paper) or electronically.

The employees must also mail or make arrangements to send the W2 form to their employees by the same date.

6 0
3 years ago
Other questions:
  • After completing the research process, writers should include their findings by
    5·1 answer
  • Promises Made in Consideration of Marriage. After twenty-nine years of marriage, Robert and Mary Lou Tuttle were divorced. They
    8·1 answer
  • Colman Company reports ending inventory in year 1 of $25,000 instead of the correct amount of $20,000. The effects of this error
    6·1 answer
  • Which of the following compensation options helps pay for classes or seminars attended?
    6·2 answers
  • MY HERO ACADEMIA FANS!!!!!!
    9·2 answers
  • On January 15, 2021, Vancey Company paid property taxes on its factory building for the calendar year 2021 in the amount of $1,0
    12·1 answer
  • People with a bachelor's degree or higher have unemployment rates that are about half the unemployment rate of people with just
    9·1 answer
  • "Political risk is the possibility that political events in a particular country will influence the economic well-being of a fir
    15·1 answer
  • On January 1, 2022, Blue Corporation issued $1,610,000 face value, 8%, 10- year bonds at $1,506,675. This price resulted in an e
    6·1 answer
  • Which individual spurred freud’s interest in the unconscious mind?.
    14·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!