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3 years ago

For each scenario, decide whether it creates a producer or a consumer surplus. Then, calculate the ensuing surplus.

Business

1 answer:

Gnom [1K]3 years ago

5 0

Answer:

Alice's consumer surplus = $5

Jeff's consumer surplus = $16

Nicole's producer surplus = $1

Explanation:

Consumer surplus is the difference between the willingness to pay of a consumer and the price of a good.

Consumer surplus = willingness to pay - price of the good

Producer surplus is the difference between the price of a good and the least price the producer is willing to accept

Producer surplus = price of the good - least price the producer is willing to accept

Alice's consumer surplus = $30 - ($35 - $10) = $5

Jeff's consumer surplus = $20 - [$16 - (0.75 x $16)] = $16

Nicole's producer surplus = $501 - $500 = $1

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3 years ago

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oksian1 [2.3K]

Answer:

$300,000

Explanation:

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Using this formula

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3 years ago

Which ethical approach typically focuses on the attainment of fair and equitable distribution of economic goods and services?

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3 years ago

When refusing an applicant's direct request for a recommendation, which of the following is the best format?

kiruha [24]

Answer:

The message should be brief and indirectly imply the refusal.

Explanation:

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3 years ago

Megan’s balance sheet shows that on February 7, 2010 she had assets totaling $27,600 and debts totaling $32,500. Which of the fo

balandron [24]

Answer:

Option (C) is correct.

Explanation:

Given that,

Megan’s balance sheet shows:

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Total debts = $32,500

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= $27,600 - $32,500

= -$4,900

Therefore,

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4 years ago