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nika2105 [10]
3 years ago
15

When a buyer’s willingness to pay for a good is equal to the price of the good, a. the buyer’s consumer surplus for that good is

maximized. b. the buyer will buy as much of the good as the buyer’s budget allows. c. the price of the good exceeds the value that the buyer places on the good. d. the buyer is indifferent between buying the good and not buying it.
Business
1 answer:
igomit [66]3 years ago
6 0

Answer:

a. the buyer’s consumer surplus for that good is maximized.

Explanation:

The consumer will purchase up to the moment at whose preference price matches the market price.

Because of the diminished return theory, the following unit (k+1) will have a lower benefit to the consumer thus, it will have purchased only if the price is lower. Therefore, it will not purchase as the market price is the same as the previous unit but the consumer benefit is lower.

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Answer: Please see answer in the expalantion column

Explanation:

To record merchandise sold on account

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Mar 2 Accounts Receivable-Equinox Co $20,000  

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To record cost of merchandise sold on account

Date Account Titles and  Explanation        Debit     Credit

Mar 2  Cost of Merchandise Sold        $13 150.00  

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To record merchandise sold for cash

Date Account Titles and  Explanation        Debit     Credit

Mar 3     Cash(10,950 + 657)                       $11,607.00

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Sales Tax Payable(10,950 x 6%)                                   $657.00

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Cost of Merchandise Sold                    $7,100.00  

Merchandise Inventory                                              $7,100.00

To record cost of merchandise sold on account

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To record merchandise sold using Master card

Mar 5 Cash(27900 +1,674)                  $29,574

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To record cost of merchandise sold using Mastercard

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Date Account Titles and  Explanation        Debit     Credit

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