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user100 [1]
3 years ago
10

Consumer surplus exists when a A. person buys something with a marginal benefit more than what they paid. B. producer sells some

thing for more than it is worth. C. person buys something with a marginal benefit exactly what they paid. D. person buys something with a marginal benefit less than what they paid. E. person buys something with a marginal cost less than what they paid.
Business
1 answer:
mario62 [17]3 years ago
6 0

Answer:

A. person buys something with a marginal benefit more than what they paid.

Explanation:

Consumer surplus occurs when the price a consumer is willing to pay for a product is higher than the market price. For example if a customer is willing to pay $10 for a book, but the sale price is $8 the consumer surplus is $2.

Since the consumer perceives he paid less than the value of the good, the marginal benefit he enjoys is more than the price paid.

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Upon graduating from UCI, you start a job in finance earning $72,000 per year and decide to buy a home. You can afford to pay no
vovikov84 [41]

Answer:

Maximum size of home loan than can afford is  $209,471

Explanation:

Rate of interest on borrowing = 4%

Per month rate (r) = 4% / 12 = 0.33%  

n = 30*12 = 360 months

Maximum size of home loan than can afford =

= $1000 * PVAF (0.33% , 360)

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= $209,471

Maximum size of home loan than can afford =  $209471

Note: Monthly payment * PVAF( r, n)

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4 years ago
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3 years ago
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How is a line credit different from a loan
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8 0
3 years ago
The total cost of ownership (TCO) is an estimate of the cost of an item that includes all the costs related to the procurement a
Rus_ich [418]

Answer:

False.

Explanation:

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