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
MAVERICK [17]
3 years ago
6

Suppose Marco is willing to tutor for $15 an hour. On Tuesday, he will tutor Kelly for 1 hour and Mike for 3 hours. Kelly will p

ay $30 an hour, but Mike will only pay $20 an hour, since he has a longer tutoring session. How much producer surplus will Marco gain from tutoring both Kelly and Mike?
Business
1 answer:
grandymaker [24]3 years ago
3 0

Answer:

Total producer surplus= $30

Explanation:

Producer surplus is the difference between the price a seller is willing to sell and the market price or actual price at which the item is bought. The producer surplus is the additional benefit the seller gets from a sale.

Consumer surplus= Market price - Price seller is willing to sell for

Marco is willing to sell at $15 hour

Kelly is willing to pay $30 per hour

Mike is willing to pay $20 per hour

Surplus from Kelly= 30- 15= $15

Surplus from Mike= 20- 15= $5

Total producer surplus= ($15*1 hour) + ($5 *3 hours)

Total producer surplus= 15 + 15= $30

You might be interested in
The income statement reports changes in fair value for which type of investment securities?a. Securities reported under the equi
sveticcg [70]

Answer: trading securities

Explanation:

An income statement is a company's financial statement and simply shows the revenues and the expenses of a company for a particular period. It shows how the company is doing whether it's running a loss or making profit.

The income statement reports changes in fair value for trading securities.

3 0
3 years ago
Rebel Technology maintains its records using cash-basis accounting. During the year, the company received cash from customers, $
Elden [556K]

Answer:

The cash-basis net income and accrual-basis net income for the year is $19,500 and $22,800 respectively.

Explanation:

The computation is shown below:

1. Net income under cash basis:

= Received cash from customers - paid cash for salaries

= $43,000 - $23,500

= $19,500

2. Net income under accrual basis:

= Cash received - salary paid

where,

Cash received = Cash owed at the end of the year + cash received - cash owed at the beginning of the year

= $6,600 + $43,000 - $1,000

= $48,600

And, the salary paid = salary owed at the end of the year + salary paid - salary owed at the beginning of the year

= $5,600 + $23,500 - $3,300

= $25,800

Now put these values to the above formula  

So, the value would equal to

= $48,600 - $25,800

= $22,800

3 0
4 years ago
In responding positively to a claim, begin the message with a. information promoting other products. b. the good news that you a
otez555 [7]

Answer:

Correct option is (b)

Explanation:

In business communication, when replying to a claim made by the customer, the sender should begin with the good news that customer's request is complied with. This should be done to gain the customer's confidence.

The customer might be looking forward to this in the reply and he will be happy to read that, thereby retaining the customer.

7 0
4 years ago
You are registering for a technology conference which includes the following:
Julli [10]

Hi, you've asked an incomplete question. The remaining part of the question reads;

Think about some of the pieces are they just data? or are they put into a meaningful context? are they something that is known? Listed, are some of the things that you may do when you register/ travel for a conference. Think about the different things and select either data, information or knowledge.

1. Data of the conference -- select either data, information, or knowledge

2. Confirmation of conference registration-- select either data, information, or knowledge.

3. List of specific sessions-- select either data, information, or knowledge.

4. Upcoming technology conferences--select either data, information, or knowledge.

5. Confirmation of registered sessions -- select either data, information, or knowledge.

6. Limit of airline schedules -- select either data, information, or knowledge.

7. Upcoming airline specials -- select either data, information, or knowledge

8. Completed airline reservation -- select either data, information, or knowledge.

9. Completed car rental reservations -- select either data, information, or knowledge.

10. List of deals at special restaurants-- select either data, information, or knowledge  

11. List of restaurants in the area -- select either data, information, or knowledge.

12. List of different rental cars -- select either data, information, or knowledge.

13. Confirmation of rental cars -- select either data, information, or knowledge.

Explanation:

Key terms definition:

  • data: can basically refer to a collection of raw facts that are not arranged in any meaningful context.
  • information: this refers to data that has been processed/arranged into meaningful context.
  • knowledge: can be defined as the awareness or understanding of a particular subject or thing based on experience.

Answer:

Hence, based on the definition of key terms above we could make a classification of the different things below:

  1. <u>Data of the conference:</u> data of the conference as data.
  2. <u>Confirmation of conference registration</u>= information
  3. <u>List of specific sessions</u>=  information.
  4. <u>Upcoming technology conferences</u>= information.
  5. <u>Confirmation of registered sessions</u>= knowledge.
  6. <u>Limit of airline schedules=</u> data.
  7. Upcoming airline specials= information.
  8. Completed airline reservation= information.
  9. Completed car rental reservations= knowledge.
  10. <u>List of deals at special restaurants</u>= data.
  11. <u>List of restaurants in the area</u>= data.
  12. <u>List of different rental cars</u>= data.
  13. <u>Confirmation of rental cars</u>= knowledge.

<u />

7 0
3 years ago
Can someone help me with this please
nydimaria [60]

Answer:

xkxkxkxkxkxxkxjccjxhsjkakcfjj Do akvjjzjxjfkk

3 0
3 years ago
Read 2 more answers
Other questions:
  • When the local grocery store puts cereal on sale, reducing its price from $4.40 per item to $3.40 per item, the quantity sold in
    14·1 answer
  • Accounting equation e. The basic tool of accounting, stated as Assets = Liabilities + Equity 2. Asset a. An economic resource th
    11·1 answer
  • There are four major categories with examples that provide a useful way for examining logistics and supply chain performance: Th
    13·2 answers
  • Dean has earned $71,750 annually for the past six years working as an architect for WCC Inc. Under WCC's defined benefit plan (w
    14·1 answer
  • The cost of the merchandise inventory that the business ▼ has sold to customers.
    11·1 answer
  • Aztec Company reports current E&amp;P of $200,000 in year 1 and accumulated E&amp;P at the beginning of the year of negative $10
    14·1 answer
  • Trendy Appliances has introduced a new​ product, Minute​ Yogurt, into the yogurt maker appliance market. Minute Yogurt differs f
    8·1 answer
  • Shelley’s Salsa produces and sells organic salsa. Last year it sold 3 million tubs of salsa at a price of $3 per tub. For last y
    8·1 answer
  • Suppose you deposit ​$1400 cash into your checking account. By how much will checking deposits in the banking system increase as
    13·1 answer
  • What is a specific set of organizational practices, policies, and programs, plus a philosophy that actively supports efforts to
    8·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!