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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

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Marsden Company has three departments occupying the following amount of floor space: Department 1 15,000 sq. ft. Department 2 10
PolarNik [594]

Answer:

the store rent that should be allocated in department 3 is $100000

Explanation:

if we assume that we charge the rent per square feet occupied, then we can say

department rent = charge per square feet* number of square feets

r = k*sf

also if

total rent = rent department 1 + rent department 2  + rent department 3

r total = r1 + r2 + r3 = k*sf1 + k*sf2 + k*sf3 = k*( sf1 + sf2 + sf3)

k= r total / ( sf1 + sf2 + sf3)

replacing values

k = $200000/(15000 sq.ft + 10000 sq.ft +25000 sq.ft ) = $ 4 per sq.ft

thus for department 3

r3 = k* sf3= $ 4 per sq.ft * 25000 sq.ft = $100000

rent department 3 = $100000

8 0
3 years ago
Of money's three functions, the one that distinguishes money from other assets is its function as a a. store of value. b. unit o
tiny-mole [99]

The one that distinguishes money from the other assets is that it is used as a medium of exchange

Explanation:

Money is one of the most important factor in our day to day lives it has become as defining the country's economic standard and it is widely accepted all over the world

Money is used as the medium of exchange because we can buy all the necessary things using the money and can use it as a medium to exchange of goods and services. There are also other important functions as the method of comparing the values

4 0
3 years ago
The objective section of a resume should consist of no more than:
Alona [7]

Answer:A

Explanation:

A p e x

3 0
3 years ago
Factors that cause the rivalry among competing sellers to be weak include: Group of answer choices slow growth in buyer demand a
Airida [17]

Answer:

slow growth in buyer demand, weakly differentiated products among rival sellers.

Explanation:

There a number of causes that relate to the firms rivalry among its competitors.

1. Barriers to entry.

2. Bargaining power of the buyers.

3. Bargaining power of the suppliers.

4. Threat of substitutes.

5. Slow industry growth.

6. Lack of differentiation and switching costs.

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3 years ago
Jo is duly notified that her mortgage with Fund All Savings has been transferred to Big Loan Co. and that she should henceforth
Likurg_2 [28]

Answer:

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Explanation:

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Mortgage payments usually occur on a monthly basis and consist of four main parts: principal, interest, taxes and insurance.

A transfer of mortgage is the reassignment of an existing mortgage, usually on a home, from the current holder to another person or entity.

When mortgage is transferred, two notices will be sent: one from the current mortgage servicer and the other from the new servicer. All payments after the notification will be made to the new servicer.

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