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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>
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Instruments had retained earnings of $ 390 comma 000 at December​ 31, 2017. Net income for 2018 totaled $ 220 comma 000​, and di
VashaNatasha [74]

Answer:

The retained earnings should Quartz report at December​ 31, 2018 is $570,000

Explanation:

In this question, we apply the retained earnings equation which is shown below:

Ending retained earnings balance = Beginning retained earning balance + net income - dividend paid

= $390,000 + $220,000 - $40,000

= $570,000

The net income should be added while dividend should be deducted for finding out the ending retained earnings balance

3 0
3 years ago
According to the text, thinking about your "academic anatomy" preference is a way to:
Mila [183]
Here is the answer that best completes the statement above. According to the given text, when you are thinking about your "academic anatomy", this preference is a way to get a handle on what you feel satisfying and fulfilling. Hope this helps.
3 0
3 years ago
Some part of income inequality is likely to be the result of discrimination. But other factors responsible for inequality includ
balandron [24]

Answer:

Differences in abilities and talents

Explanation:

Income inequality refers to variation or discrepancy between income levels of individuals. Income inequality arises on various accounts one of which being, difference in abilities and talents.

All individuals possess different skill sets and their efficiencies vary too. Some individuals are more creative and talented than others while some are more laborious and hardworking.

Each skill set has it's own demand and thus, income is fixed as per the demand of a particular skill set for a given sector.

This leads to some earning lot more than others and differences in pay scales as per the abilities individuals possess.

6 0
3 years ago
Which of the following is an example of internally caused behavior? An employee was laid off because the company was attempting
irga5000 [103]

Answer:

An employee was fired from work because he violated company policy

Explanation:

One of the factor that determine the behavior of people is the way the event arround them is interpreted. Those that can control things arround them usually take responsibility for what they do compare to set of people believing that situation arround them is beyond their control, which is explained in" attribution theory" by Fritz Heider. Internally caused behavior can be regarded as challenging behavioras a result of internal stimuli such as traits, pain and anxiety.

Out of the options given in the question only "An employee was fired from work because he violated a company policy" is an example of internally caused behavior, since the violation is on the path of the employee which is as a result of internal behavior known to him.

6 0
3 years ago
Splish Company purchased a computer for $9,920 on January 1, 2019. Straight-line depreciation is used, based on a 5-year life an
BartSMP [9]

Answer:

$2914

Explanation:

The following steps would be taken to determine the answer

1. Calculate depreciation expense given the initial information  

2. calculate the accumulated depreciation by the second year. Accumulated depreciation is sum of depreciation expense

3. subtract the accumulated depreciation from the cost price of the asset. This would give the book value  

4. calculate the depreciation expense using the new information and the book value

Straight line depreciation expense = (Cost of asset - Salvage value) / useful life

($9,920 - $1240) / 5 =  $1736

Accumulated depreciation = 1736 x 2 = $3472

Book value at the beginning of 2021 = 9920 - 3472 = $6448

Depreciation expense in 2021 = (6448 - 620) / 2 = $2914

5 0
3 years ago
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