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
WARRIOR [948]
3 years ago
11

First,label the following scenarios as to whether they would create a producer or consumer surplus. Then, after you have labeled

each scenario, calculate the ensuing surplus.
Jeff finds some steaks for $16 for which he would have been willing to pay $20. The butcher notices the meat is near the expiration date and gives him an extra 75% off.
Business
1 answer:
Iteru [2.4K]3 years ago
8 0
Alice is willing to spend $30 on a pair of jeans, and has a coupon for $10 off she found online. She selects and purchases a $35 pair of jeans, pre-discount. 
(Alice's consumer surplus, $5)

<span>Jeff finds some steaks for $16 for which he would have been willing to pay $20. The butcher notices the meat is near the expiration date and gives him an extra 75% off. </span>
(Jeff's consumer surplus, $16)

<span>Nicole has in her possession a hockey puck from the 2010 Winter Olympic Games and sells it on eBay. She will only sell the puck if the winning bid is greater than or equal to $500. After bidding closes, the last bid stands at $500. </span>
(Nicole's producer surplus, $0)

<span>Claire is trying to sell her used calculus textbook online. She asks for $150 or best offer and is willing to sell for anything over $100. She is able to sell it for $125. </span>
(Claire's producer surplus, $25)


<span>Roy is willing to pay $2.50 for a sports drink. He notices the price is $2.79 and chooses not to purchase a sports drink. (Roy's consumer surplus, $0)</span>
You might be interested in
Alin Co. purchases a building for $300,000 and pays an additional $30,000 for closing costs (brokerage, title, attorney fees). A
Yuri [45]

Answer:

The answer is: $350,000

Explanation:

When Alin Co. establishes the total cost of the building it just purchased, it must include all of the following:

  • building's purchase value $300,000
  • associated closing costs $30,000
  • building improvements and renovations $20,000

So the total cost of the building is $300,000 + $30,000 + $20,000 = $350,000

3 0
3 years ago
1-a. Allocate the lump-sum purchase price to the separate assets purchased. 1-b. Prepare the journal entry to record the purchas
marin [14]

Answer:

1. a. Allocated prices

First add the market values = 444,150 + 255,150 + 56,700 + 189,000 = $945,0

00

Building allocated price                                     Land allocated price

= 444,150/ 945,000 * 830,000                        = 255,150/945,000 * 830,000

= $‭390,100‬                                                           = $224,100

Land improvement allocated price                  Four vehicles allocate price

= 56,700/945,000 * 830,000                          = 189,000/945,000 * 830,000

= $49,800                                                        = $166,000

b. Journal entry

Date                 Account Details                             Debit                   Credit

Jan. 1, 2017      Building                                       $390,100

                        Land                                            $224,100

                        Land improvement                     $49,800

                        Vehicles                                      $166,000

                        Cash                                                                         $830,000

2. Depreciation on building using straight-line method.

= (390,100 - 28,000) / 15

= $‭24,140‬

3. Depreciation on land improvements using double declining method.

First do straight line:

= 49,800/ 5 years

= $9,960

Straight line rate of depreciation = 9,960/49,800 = 20%

Double declining will be twice that rate = 40%

Depreciation = 40% * 49,800

= $‭19,920‬

4 0
3 years ago
Why is adversity is the workplace good fo the business
ANTONII [103]

It diversify the workload and allows people to make more connections and all while having multiple view on one problem to help in finding or solving a problem.

6 0
3 years ago
Your project is split into two teams across two different continents. They understand the work to be completed, as well as commu
pentagon [3]

Answer:

Your project is split into two teams across two different continents. They understand the work to be completed, as well as communication processes. But they still often argue about how the work should be accomplished and who should make decisions. Given what you know, what is the most likely cause for these issues?

cultural differences

Explanation:

8 0
3 years ago
Cyclical unemployment: a) rises during recession. b) falls during recession. c) rises during expansion. d) is a part of natural
dimulka [17.4K]

Cyclical unemployment: rises during a recession

<h3><u>What is Cyclical unemployment ?</u></h3>
  • Cyclical tendencies in growth and output, as shown by the GDP, that take place throughout the economic cycle are what are meant by cyclical unemployment.
  • Cyclical unemployment is defined by economists as the situation that arises when firms don't have enough demand for labor to hire all people who are searching for work at that particular stage of the business cycle.
  • There may be a commensurate decrease in supply output to make up for a loss in demand for a good or service.
  • To fulfill the lower norm of production volume, fewer workers are needed when supply levels are cut.
  • The corporation will discharge any employees who are no longer required, which will result in their unemployment.

To learn more about Cyclical unemployment, refer to:

brainly.com/question/14227610

#SPJ4

6 0
1 year ago
Other questions:
  • A _____ tour is one in which a tour representative only meets with the tour travelers when they need to see him or her. Hybrid s
    10·2 answers
  • Western Company has net income of $100 million in 2018. If net income in 2019 is $175 million or more, executives will receive 2
    13·1 answer
  • Nick left his job as a plumber when his wife took a position in another region. The quantity of plumbing services demanded is co
    6·1 answer
  • Jason, a police officer, strongly believes in justice and does not accept bribes from others. According to Kohlberg's stages of
    10·1 answer
  • Exercise 19-13 Variable cost analysis for a special order LO A1 Grand Garden is a luxury hotel with 160 suites. Its regular suit
    14·1 answer
  • which result is a positive aspect of globalization a.intense competition b. decreased profit margins c. increased cooperation co
    11·1 answer
  • Knowledge that gives a producer an economic advantage over other producers is called a _____.
    11·2 answers
  • Inventory records for Dunbar Incorporated revealed the following: Date Transaction Number of Units Unit Cost Apr. 1 Beginning in
    14·1 answer
  • Prior to May 1, Fortune Company has never had any treasury stock transactions. A company repurchased 150 shares of its common st
    9·1 answer
  • Credit score is used to determine your financial worth ?
    6·2 answers
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!