Answer: Statement 1 ( Laptop) = Producer surplus
Statement 2 ( watch ) = Neither
Statement 3 ( jersey sweater) = Consumer surplus
Explanation:
Hi, Consumer surplus happens when the price that consumers pay for a product or service is less than the price they're willing to pay.
- <em>Even though I was willing to pay up to $46 for a jersey sweater, I bought a jersey sweater for only $39. </em>Consumer surplus
Producer surplus<em> </em> is measured as the difference between what producers are willing and able to supply a good for and the price they actually receive
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<em> I sold a used laptop for $149, even though I was willing to go as low as $140
.</em>Producer surplus
- <em>I sold a watch for $59 on eBay last week. This week, someone offered me $145 for it. </em>neither
Feel free to ask for more if needed or if you did not understand something.
A compute the company’s net sales for the year
Answer:
B
Explanation:
As more consumers move in, the demand curve for the store's products would increase (shift to the right) as it is influenced by factors other than price.
While option A could be an eventual outcome, it would only follow an increase in Demand. Note that a change in price would result in movement along the curve.
There is not sufficient information to support Option C
Option D is wrong because higher demand would result in higher revenues, assuming all else remains constant.
<span>Summer lay-by and Christmas were two occasions in which slaves could look forward to for recreation and relaxation.</span>
Answer:
O A real interest rate that is higher than current inflation is desirable,
Explanation:
The real rate is the nominal rate of interest after considering the inflation rate. The nominal rate is the interest rate quoted by financial institutions. It shows the percentage of return expected on a deposit or loan. The inflation rate communicates the rate at which prices are increasing in the economy.
The real rate is equivalent to the nominal minus the inflation rate. An ideal situation is when the real rate is higher than the inflation rate. In such a situation, the rate of money growth is higher than the price increases. It means the invested amount will increase in value. At the end of a period, the invested amounts will buy more goods and services than
