Answer:
B. Consumer surplus is the difference between the maximum price a consumer is willing to pay for a good or service and its market price.
Explanation:
As we know that the consumer surplus shows a difference between the maximum price willing to pay for a good or for rendering the service and the market price
In mathematically,
The consumer surplus = Willing to pay - Market price
Therefore, the correct statement is option B as the rest of the statements are wrong.
I got that message about 10 times still don’t care lol
Answer: Poverty
Explanation:
Poverty is the lack of resources needed to meet an individual's basic needs, such as the need for; food,water, clothing and shelter. A person is said to be poor if the person can't cater for his basic needs.
For a monopolist b. price is above marginal revenue.
<h3>What Is Marginal Revenue? </h3>
Marginal revenue can be regarded as increase in revenue which is been gotten from the sale of one additional unit of output.
As a monopolist that is the the only seller in the market, then their marginal revenue is usually above price because they don't have a competitor that is close enough.
Read more on Marginal Revenue here:
brainly.com/question/12231343
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Answer:
$45,000
Explanation:
Since we assume that Mr. Bagley calculated his next year's taxes correctly, in order to determine the federal tax withholding, we should divide the total expected taxes by 4. Generally self-employed pay federal tax withholdings in quarterly payments.
Mr. Bagley has two options:
- the first option is to pay quarterly taxes according to last year's taxes = $45,000 / 4 = $11,250 per quarter. This would be the required payment.
- Mr. Bagley's second option is to pay $70,000 / 4 = $17,500 every quarter in order to lower his final annual payment. He can choose to do this, but he is not required to do so.
