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labwork [276]
3 years ago
11

Mister Jones was selling his house. The asking price was $220,000, and Jones decided he would take no less than $200,000. After

some negotiation, Mister Smith purchased the house for $205,000. Smith's consumer surplus is__________.
Business
1 answer:
makkiz [27]3 years ago
7 0

Answer:

$15,000

Explanation:

Consumer surplus is the difference between the willingness to pay of a consumer and the price the consumer pays for the product.

= $220,000 - $205,000 = $15,000

I hope my answer helps you

You might be interested in
Suppose that, in a competitive market without government regulations the equilibrium price of gasoline is $3.00 per gallon.
yKpoI14uk [10]

Answer:

price floor , binding

price ceiling binding

price floor , non binding

Explanation:

A price floor is when the government or an agency of the government sets the minimum price of a product. A price floor is binding if it is set above equilibrium price.

Price ceiling is when the government or an agency of the government sets the maximum price for a product. It is binding when it is set below equilibrium price

Because firms are unable to hire workers due to the minimum wage laws., it means it is binding price floor

Equilibrium price is $3 and the maximum price is $2.70 . Thus, it is a binding price ceiling

Equilibrium price is $3 and the minimum price is $2.70 . Thus, it is a binding floor

8 0
3 years ago
On November 10th, Easton Company sold the Y Company stock for $31 per share. On December 15th, Z Company paid dividends of $0.12
AysviL [449]

Answer:

Find attached complete part  of the question.

The unrealized gains is $3500

Explanation:

Y stock has been disposed and its gains or losses are now realized, and it is not applicable to our computation now.

Unrealized gains or losses is the difference between purchase price of a stock and its current market price

Stock X=($43-$40)*1500=$4500 gains

Stock Z=($21-$22)*1000=-$1000 losses

So unrealized gains overall =$4500-$1000

     unrealized gains =$3500

Note that the price of stock X  has risen to $43 from initial $40 while that of company  Z has fallen to$21 from the initial $22.

I

Download xlsx
3 0
3 years ago
________ leaders inspire followers to transcend their self-interests for the good of the organization and can have an extraordin
dsp73

The answer to this question is Transformational leaders.

<span>Transformational leaders are leaders who inspire their subordinates / followers by being a role model in order for the members or followers to enhance their performance. Transformational leaders increase the morale of the members by creating a vision for them to be guided and inspire the members to do their best and be motivated always.</span>

8 0
3 years ago
Bronn and Jaime make a written contract where Jaime will sell Bronn his armor and sword for $1,200.
satela [25.4K]

Answer: Mirror image rule

Explanation:

It should be noted that the contract formation defenses are fraud, illegality, incapacity, unconscionability, duress and statute of Frauds.

The mirror image rule is not among the defense to the formation of w contract. It implies that an offer should be accepted with no changes made to the offer.

8 0
3 years ago
Stephanie has a homeowners insurance policy for her $355,000 home with an annual premium of $0. 42 per $100 of value and a deduc
harkovskaia [24]

The annual premium that would result in Stephanie's annual out-of-pocket expense that is about the same as her current plan is <em>b. $0. 28 per $100 of value.</em>

Data and Calculations:

Home value = $355,000

Annual premium rate = $0.42 per $100

Deductible  $500

Total annual out-of-pocket expense = $1,991 ($355,000 x 0.0042 + $500)

New deductible = $1,000

New annual premium rate = $0.28

Total annual out-pocket expense based on the new premium rate = $1,994 ($355,000 x 0.0028 + $1,000)

Thus, the annual premium that would result in Stephanie's annual out-of-pocket expense that is about the same as her current plan is <em>Option b.</em>

Learn more: brainly.com/question/18618915

6 0
2 years ago
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