A similarity between mortgages and auto loans is that both are less risky for lenders.
Lenders are the ones who lend money to those who need it urgently, in the form of a mortgage, or perhaps an auto loan. This money is going to be repaid monthly, or in whatever way the contract stipulates. It is less risky for the lender because legally, this has to be repaid.
Answer: The answer is price is 15 equilibrium quantity is 75 Consumer surplus is 60 Producer surplus is 90
Explanation:
D=120-3P
S= 3P - 30
At equilibrium Qd=QS
120-3P=3P-30
Collect like terms
120-30=3P+3P
Divide both sides by 6
90/6=6P/6
15=P
P=15
Substitute the value of P into equation 1
120-3 (15)
120-45
=75
To calculate the consumer surplus
Equilibrium quantity-Price
75-15
=60
To calculate producer surplus
Equilibrium quantity +Price
75+15
=90
Answer:
Reducing cost
Explanation:
Competitive advantage is defined as the edge a firm has over others that results in greater profits.
It can be as a result of technology, price, cost reduction, or quality.
In the given scenario where an organization implements an information system to optimize its supply chain by decreasing wastage, it is reducing its cost as a way of gaining competitive advantage over other companies.