Answer: a. benefits Boxlandian consumers by $672 and harms Boxlandian producers by $598.50.
Explanation:
Equilibrium price will be at level where quantity demanded equals quantity supplied.
200 − 2P = -60 + 3P
200+60 = 5P
5P = 260
P = $52
Equilibrium Quantity Demanded = 200 − 2P = 200 - 2 * 52 = 96 units
In a no-trade situation the demand in Boxland is 96 units at a price of $52. If they were to buy at the world price of $45, they would benefit;
= (96 * 52) - (96 * 45)
= 4,992 - 4,320
= $672
Producers however would produce the following at a price of $45;
Q S = -60 + 3P
= -60 + 3(45)
= 75 units
They would be supplying less units and be hurt.
Based on the sales figure and the change in the accounts receivable balance, the amount of cash received from customers wa<u>s $14,300.</u>
<h3>What was the amount of cash received?</h3>
The accounts receivable balance refers to the amount that customers owe to the company.
This means that if the accounts receivable balance decreases by the certain amount, it would be because that amount was paid by the customers who owe the business.
The cash paid is therefore the amount of $14,300 which the balance reduced by.
Find out more on accounts receivables at brainly.com/question/24848903.
Chicago is considered by many to be a central hub in the midwest between the east and west coasts. Consider the centralized location and proximity to water which makes the city an excellent port/
Answer: The answer is b -an increase in income will cause the demand curve of an inferior good to shift to the left.
Explanation: An inferior good is a good whose demand reduces as income increases. It's demand has an inverse or negative relationship with income. Therefore as the income of the individual increases, the demand for an inferior good reduces. On a graph, the reduction in demand is depicted by an inward shift of the demand curve or a shift of the demand curve to the left to show a reduction in demand. Income is one of the factors that leads to a shift in the demand curve. The income elasticity would be negative
