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olchik [2.2K]
3 years ago
14

Suppose the most you would be willing to pay to have a freshly washed car before going out on a date is $4.00. The smallest amou

nt for which you would be willing to wash someone else's car is $2.50. You are going out this evening and your car is dirty. How much economic surplus would you receive from washing it
Business
2 answers:
Art [367]3 years ago
8 0

Answer: $1.50

Explanation:

The economic surplus is the benefit that a person receives over what they view as the cost of the transaction.

Here you believe the car wash is worth $4.00 yet you believe the cost would be $2.50 if you did it yourself.

The surplus you are gaining therefore is;

= 4 - 2.50

= $1.50

o-na [289]3 years ago
4 0

Answer:

Economic surplus is $1.5

Explanation:

Economic surplus considers two components. The consumer surplus and the producer surplus.

Consumer surplus is difference between what a consumer is willing to pay and the market price of a good.

Producer surplus is the difference between the market price of a good and the minimum amount seller is willing to recieve for the product.

In this instance economic surplus combines the benefits that a producer and supplier gets from the product.

Consumer surplus is $4 and the producer surplus is $2.50

So if one decides to wash the car the comic surplus will be 4 - 2.50 = $1.5

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Jamie is analyzing the estimated net present value of a project under various conditions by revising the sales quantity, sales p
Brut [27]

Answer:

C. Scenario Analysis

Explanation:

Scenario Analysis is analysis of computing the Net Present Value by changing various variables, that is change in values of Sales, Variable Cost, Revenue, Cost of project and various other things. Basically it measures the Net Present Value with respect to various factors associated with calculating the net present value, as Jamie is calculating Net Present Value with different factors, that is in different scenarios, it is called Scenario Analysis.

8 0
3 years ago
Geese Company utilizes the LIFO retail inventory method. Its cost-to-retail percentage is 60% based on beginning inventory and 6
Nataly_w [17]

Answer:

$152,000

Explanation:

Calculation for the cost of the ending inventory

First step is to calculate the cost-to-retail percentage of the beginning inventory amount

Using this formula

Beginning Inventory =Cost-to-retail percentage*Beginning inventory at retail

Let plug in the formula

Beginning Inventory =60%*$200,000

Beginning Inventory =$120,000

Second step is to calculate current-period purchases percentage of the new layer amount

Using this formula

Current period purchases= Purchases percentage* New layer

Let plug in the formula

Current period purchases=64%*50,000

Current period purchases=$32,000

The last step is to find the cost of the ending inventory using this formula

Ending inventory cost=Beginning Inventory+Current period purchases

Let plug in the formula

Ending inventory cost=$120,000+$32,000

Ending inventory cost=$152,000

Therefore the cost of the ending inventory will be $152,000

4 0
3 years ago
From a strategic marketing viewpoint, a total product offer includes all of the tangible attributes of a good or service, and ex
Tasya [4]

Answer:

B. False

Explanation:

<em>Total Product offer </em>is every aspect of a product which the customer evaluates before buying.

From strategic marketing viewpoint, the customer may evaluate the product on both the tangible and intangible attributes.

An example of this is the iPhone by Apple. On tangible level, the product itself, the packaging and others are tangible attributes that a customer may evaluate. On intangible level, the brand name, perceived benefits, convenience, purchase services, and many other factors are part of the iPhone as the intangible attributes that the customer will evaluate.

As a marketer, one should think and talk in the language of customers- let it be from either tangible or intangible point of view.    

7 0
3 years ago
The markup on a TV should be 58% based on selling price. If the seller paid $252 for one, then how much should it be sold for (i
FinnZ [79.3K]

Answer:

=$398.16

Explanation:

Mark up represents the desired profits of a product. A percentage mark-up increases the price of a product by that specific percentage.

If the cost is $252 and the required mark-up is 58%, the selling price will 58% higher than $252.

= 58% of 252 + 252

= (58/100 x 252 ) + $252

=$146.16 +252

=$398.16

3 0
3 years ago
Employers are generally allowed to deduct reasonable compensation paid to employees, but the level of deductible compensation is
DENIUS [597]

Answer:

1 million.

Explanation:

Employers are generally allowed to deduct reasonable compensation paid to employees, but the level of deductible compensation is limited to a maximum of $ 1,000,000 for the CEO, CFO, and the next three highest paid officers of publicly traded corporations unless certain exceptions are met.

8 0
3 years ago
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