Answer:
producer surplus is greater than consumer surplus.
Explanation:
Consumer surplus is the difference between the willingness to pay of a consumer and the price of the product.
Consumer surplus = willingness to pay - price of the product
$120 - $119 = $1
Producer surplus is the difference between the price of a product and the least price the seller is willing to sell his product.
Producer surplus = price - least price the seller is willing to sell his product.
$119 - $110 = $9
From the calculation, producer surplus is greater than consumer surplus.
I hope my answer helps you
Answer:
4.
Explanation:
Instead of having to follow a franchises rules or prexisting rules at the existing business you can develope your own affecting costs and overall efficiency of your company.
Answer:
The correct answer is <u>C) A person who owns a hotel chain and rents out a unit for a fee.</u>
Answer:
The input of land, labor, and capital. APEX
Answer:
<u>increasing real output and reducing unemployment</u>
Explanation:
The expansionary phase of the cycle is business characterized by the i<em><u>ncreasing real output and reducing unemployment.</u></em>
<em> Business cycle refers to that cycle in which there is increase and decrease or fall and rise of output of goods and services.</em>
<em> Business cycle has main four stages expansion ,peak , contraction and trough.</em>
The main cause of business cycle is the forces of supply and demand , expectation of future and it availability of the capability may also cause the business cycle.
Economic cycle is another name of Business cycle . Business cycle plays a crucial rule in the economy as it influence the demand of the consumer.