Answer:
the general welfare will be the sum of consumer surplus and producer surplus.
Explanation:
The consumer and producer surplus assessment serves to measure the overall efficiency of the market, which in turn is associated with overall well-being. An efficient market is one in which both consumers and producers have the incentive to negotiate and effect trade.
Consumer surplus is the difference between the amount he or she is willing to pay and how much he or she actually pays for the product. This surplus is positive when the amount paid is less than the amount for which the consumer would be willing to pay.
Similarly, the producer's surplus is the difference between the market price and the price at which the seller is willing to produce and sell. When the producer's surplus is positive, it means that he sells the product for a price higher than the minimum value that would stimulate him to produce.
Thus, the general welfare will be the sum of consumer surplus and producer surplus.
Answer:
Total cost= $40.3
Explanation:
Giving the following information:
The activity rates associated with each activity pool are:
$8.30 per guest check-in
$20.00 per room cleaning
$4.00 per served meal (not including food).
Tara Washington visited the hotel for a 3-night stay. Washington had 6 meals in the hotel during her visit.
Total cost= 8.30*1 + 20*1 + 4*3= $40.3
Answer:
checking accounts, saving accounts, certificates of deposit, and loans.
Explanation:
