Rhetorical explanation or definition.
Here, the reader is supposed to agree with the author's sentiments and negative opinion of taxation (through the use of the "charged" words such as oppressive and hard-earned). Rhetorical explanations often convey a certain feeling for the reader; here, the reader feels the negative and unjust feelings regarding taxation.
A. true because when your market goes down than you are losing money. when market goes up you are getting more money.
Answer:
Consumer Surplus = $1.50
Explanation:
Consumer surplus is the difference between what a consumer is willing to pay for a given amount of goods or services and what he ends up paying.
Therefore,
Consumer surplus = Amount consumer is willing to pay less amount paid
Given that
Elvis is willing to pay 5 + 4 + 4.50 = 13.50 for three
Price of 3 sandwich = 3 × 4 = 12
Consumer surplus = 13.50 - 12
= $1.50
Answer:
<u>Not buying the Asics or the Nike shoes</u>.
Explanation:
Opportunity cost is an economic expression that refers to alternative buying opportunity decisions that have been waived for another opportunity to apply economic resources to be completed. What influences the opportunity cost is the desire for the acquisition, in the case of Diana she had first choice to buy Adidas shoes, followed by Nike and Asics that could cost a lower amount than she paid in the chosen tennis, but not they had the same added benefits that Diana expected when choosing a good as a first call option.
Answer:
$1 per hour
Explanation:
Data provided in the question
Lauren pick cherries per hour for $8 per hour
And, the wage rate that Lauren earns is $7 per hour
So, the surplus made from Lauren's labor per hour is
= Lauren pick cherries per hour - Wage rate that Lauren earns
= $8 per hour - $7 per hour
= $1 per hour
Simply we deduct the wage rate from the cherries per hour so that the surplus per hour could come
