Answer:
neither
producer surplus
consumer surplus
Explanation:
Consumer surplus is the difference between the willingness to pay of a consumer and the price of the 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 seller is willing to sell the product
Producer surplus = price – least price the seller is willing to accept
The first scenario is neither a producer or consumer surplus because a transaction did not take place
The second scenario is a producer surplus.
the producer surplus = 60 - 55 = 5
The third scenario is a consumer surplus
consumer surplus = $114 - $107 = $7
Answer:
Option D
Increased globalisation that moves the economy from manufacturing based economy to more service-based economy.
Explanation:
Option D
Increased globalisation that moves the economy from manufacturing based economy to more service-based economy.
As manufacturing will decrease, the number of jobs will decrease drastically because the number of industries will become small.
During the testing stage, a firm should take feedback from various stakeholders on how the solution meets the needs of the problems or concerns they shared with you in interviews.
Design thinking is a concept used by organizations including businesses to improve their products and services. It is a solution-based approach to dealing with issues. There are main stages in the process of design thinking. They are Empathize, Define, Ideate, Prototype, and Test.
The test stage is the final stage in which the solutions or products are tested to see if they meet the needs of the stakeholders. The designers will rigorously test the complete product and gauge the response of stakeholders. This can lead to modifications to the product. The goal is to understand the product and its users.
To learn more about design thinking: brainly.com/question/12108094
#SPJ4
The opportunity cost of shifting from point C to D is 40 tons of oranges.
<h3>What is the formula for calculating opportunity cost?</h3>
Opportunity cost is the help you forego in choosing one duration of action over another. You can determine the opportunity cost of picking one investment option over another by using the following method: Opportunity Cost = Return on Most Profitable Investment Choice - Return on Investment Chosen to Pursue. The law of increasing opportunity cost: As you increase the production of one good, the opportunity expense to produce the more goods will increase.
To learn more about the Opportunity cost visit the link
brainly.com/question/13036997
#SPJ4
