1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Darina [25.2K]
2 years ago
11

Abraham drinks Mountain Dew. He can buy as many cans of Mountain Dew as he wishes at a price of $0.55 per can. On a particular d

ay, he is willing to pay $0.95 for the first can, $0.80 for the second can, $0.60 for the third can, and $0.40 for the fourth can. Assume Abraham is rational in deciding how many cans to buy. His consumer surplus is
Business
1 answer:
Brrunno [24]2 years ago
5 0

Answer:

It will purchase 3 cans

total consumer surplus    0.70

Explanation:

the market price is 0.55

It will purchase up to three cans. the fourth can he is willing to purchase at 0.40 but the price is 0.55 so it won't trade for that one.

<u>consumer surplus:</u>

difference between the amounts he was willing to pay for each unit and the market price:

first can        0.95 - 0.55 = 0.40

second can 0.80 - 0.55 = 0.25

third can      0.60 - 0.55 = 0.05

total consumer surplus    0.70

You might be interested in
A gracious welcome by an employee at the hotel check-in counter is an example of:
hammer [34]
<span>This is the "moment of truth." These are the times at which good customer service and pleasant interactions with staff can make an experience enjoyable or it can break the trust of a customer, not to be easily repaired. Moments of truth can take place many times during an interaction or transaction, and need to be carefully monitored to make sure that the best service actions known are being taken.</span>
5 0
3 years ago
Distinguish between planned economy and mixed economy?​
Anettt [7]

Answer:

CHECK THE EXPLANATION.

Explanation:

A planned economy is a type of economic system where investment, production and the allocation of capital goods takes place according to economy-wide economic plans and production plans. A planned economy may use centralized, decentralized, participatory or Soviet-type forms of economic planning whereas a mixed economy is an economy organized with some free market elements and some socialistic elements, which lies on a continuum somewhere between pure capitalism and pure socialism. ... Mixed economies socialize select industries that are deemed essential or that produce public goods.

4 0
2 years ago
When shares of stock that were issued to the public are later bought and sold among investors on the stock exchange, the issuing
Degger [83]

Last option is correct. The issuing corporation does not record any entry because it doesn't receive or give anything of value.

<h3>What are shares of stock?</h3>

The shares are regarded as the smallest unit of the stock that is owned by a company. There company sometimes sells its shares.

The company may have up to 10 million stock which it can sell to the intended buyers.

Read more on shares and stock here: brainly.com/question/25818989

#SPJ1

7 0
1 year ago
Bank capital can best be described as a. the location of most of the major banks of a country. b. the accumulated amount of rese
LenKa [72]

Answer:

c. funds contributed by shareholder purchasers of a bank's stock plus the accumulated retained earnings.

4 0
3 years ago
A minimum wage is an example of a price floor or minimum price that must be paid. If effective, such a price floor would be ____
valkas [14]

Answer:

If effective, such a price floor would be <u>above</u> the market price and would lead to a <u>excess supply</u>.

Explanation:

A price floor can be described as a price control in which the minimum price to be charged for goods and services is imposed by a government or a group.

For a price floor to be effective and binding, it has to be set above the market or equilibrium price. This is because a price floor will neither be effective nor nonbinding when it set below the equilibrium price.

Any price above the equilibrium or market price creates or leads to excess supply. Excess supply is a situation whereby quantiy of commodity supplied is more than the quantity demanded of the commodity.

Based on the above explanation, if effective, such a price floor would be <u>above</u> the market price and would lead to a <u>excess supply</u>.

3 0
3 years ago
Other questions:
  • Javonte Co. set standards of 2 hours of direct labor per unit of product and $15.80 per hour for the labor rate. During October,
    5·1 answer
  • The short-run aggregate supply curve will decrease if:
    15·1 answer
  • In markets characterized by oligopoly,
    11·1 answer
  • Miltmar Corporation will pay a year-end dividend of $5, and dividends thereafter are expected to grow at the constant rate of 4%
    14·1 answer
  • On January 2, 2021, L Co. issued at face value $21,000 of 2% bonds convertible in total into 1,200 shares of L's common stock. N
    9·1 answer
  • When a customer is venting their anger, they will be easier to deal with if you _____.
    12·1 answer
  • Adjusting Entries and Adjusted Trial Balances
    13·1 answer
  • In obtaining an understanding of an entity's internal control in a financial statement audit of a nonpublic company, an auditor
    13·1 answer
  • Nico's net take-home pay per month is $2,100. What is the maximum dollar amount of debt payments, excluding a home mortgage, he
    6·1 answer
  • Michael works as a financial advisor in a doctors office. The two organizations that Michael most likely belongs to are the..
    13·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!