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Arisa [49]
4 years ago
9

The difference between the maximum price a consumer is willing to pay for a product and the actual price the consumer pays is ca

lled
Business
1 answer:
sineoko [7]4 years ago
3 0

Answer:

The answer is consumer's surplus

Explanation:

Consumer's surplus is the difference between what the consumer or buyer is willing to pay and the amount he or she eventually paid.

For example, Mr A is willing to pay $100 for a product and the producer is willing to sell for $90. After much negotiation between mr A and the seller, he eventually paid $85. What he paid was lower than what he was willing to pay before.

So the consumer surplus is $100 - $85 = $15

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How do you activate a linked chart?
DerKrebs [107]
A.click the chart and ask t edit data
6 0
4 years ago
As of july 2013, the population of the united states was 3.164 × 108, and the national debt was 1.674 × 1013 dollars. how much w
svetlana [45]
Given:Population of the US: 3.164 x 10^8National Debt 1.674 x 10^13
What we are looking for: person’s share of the debt.
Solution:To solve this, just divide the national debt to the number of people of the us, (which is the population of the US)

1.674 x 10^13 divided by 3.164 x 10^8

Answer is: $52,907.71 is the share of each person.
6 0
3 years ago
Elliott Engines Inc. produces three products—pistons, valves, and cams—for the heavy equipment industry. Elliott Engines has a v
aksik [14]

Answer:

Kindly see attacked picture

Explanation:

Elliott Engines Inc. produces three products—pistons, valves, and cams—for the heavy equipment industry. Elliott Engines has a very simple production process and product line and uses a single plantwide factory overhead rate to allocate overhead to the three products. The factory overhead rate is based on direct labor hours. Information about the three products for 20Y2 is as follows: Budgeted Volume (Units) Direct Labor Hours Per Unit Price Per Unit Direct Materials Per UnitPistons 5000 0.50 $45 $8 Valves 12,500 0.30 17 3Cams 1,500 0.20 60 40 The estimated direct labor rate is s30 per direct labor hour Beginning and ending inventories are negligible and are, thus, assumed to be zero. The budgeted factory overhead for Elliott Engines is $163,750 If required, round all per unit answers to the nearest cent a. Determine the plantwide factory overhead rate. per dih b. Determine the factory overhead and direct labor cost per unit for each product.

Kindly check attached picture for solution

7 0
3 years ago
When asked what the concept "New Year's" meant to Holly, she mentioned the following: party, holiday, new beginning, football, f
Radda [10]

Answer:

semantic memory

Explanation:

Semantic memory is the general knowledge that an individual has accumulated over the years, it involves experience related to one's culture. Semantic memory is one of the two categories of explicit memory.

It is not a specific and personal memory.

Holly's general knowledge of New year is party, holiday, new beginning, football, fun, resolution, and winter.

Episodic memory in the other hand is specific and personal recollection of an event.

3 0
3 years ago
Which of the following statements accurately explain why international investors need to watch the real interest rate as opposed
Lelu [443]

Answer:

The nominal interest rate refers to the interest rate, unadjusted for inflation.

The real interest rate equals the nominal interest rate minus the inflation rate.

Explanation:

The nominal interest rate is equal to the real interest rate plus the expected inflation rate. As a result, the nominal interest rate is an estimated figure, that tries to account for inflation, but because inflation is a number that cannot be fully predicted, it is a rate that is less accurate than the real interest rate, which takes into account the real inflation rate.

Because inflation is a variable that determines whether the investors earn a return or not (if the inflation rate is higher than the real interest rate, the investors actually lose closely), investors must watch closely this rate, because it is the one that actually determines the future of their investments.

7 0
3 years ago
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