If consumers' surplus is $30 and the price paid for the good is $50, then the maximum price a buyer is willing and able to pay for the good is $20. To solve for this question, subtract the surplus amount of $30 and the actual price paid of $50 together. Consumer surplus is defined as the difference in the amount of money that a consumer is willing to pay vs what they actually pay for a good or service.
Answer:
$800 million more
Explanation:
Amount spent each year under the government wheat price-support program = $0.2 × 10 billion = $2 billion
Amount spent each year in an unregulated market for Pakistani wheat = $0.1 × 12 billion = $1.2 billion
Amount spent more each year under the government wheat price-support program than otherwise would have been spent in an unregulated market = $2 billion - $1.2 billion = $800 million
Answer:
B: $12,000
Explanation:
Sarah will pay $ 12,000 as the invoice has a term that indicates a cash discount (2/10) of 2% if payment is made with in 10 days from the date of invoice and (n/30) no discount is given if payment is made after 30 days.
As Sarah paid the invoice after 15 days of invoice assuming the invoice date was 1st June then no discount is received by Sarah.
No interest of late payment has also been charged as it pays the invoice with in the normal 30 days credit limit.
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