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Brut [27]
4 years ago
14

Consumer surplus is the a. amount of a good consumers get without paying anything. b. amount a consumer pays minus the amount th

e consumer is willing to pay. c. amount a consumer is willing to pay minus the amount the consumer actually pays. d. value of a good to a consumer.
Business
1 answer:
NARA [144]4 years ago
5 0

Answer:

C) amount a consumer is willing to pay minus the amount the consumer actually pays.

Explanation:

Consumer surplus is a situation in which a consumer is willing to pay more for a product but he/she actually pays less that is he pays a lesser price compared to what he is willing to pay.

For example, a consumer is willing to pay $5 for a magazine but when he got to the mall, the price of the magazine is $4. The consumer surplus will be price he is willing to pay minus the price he bought it.

Consumer surplus= $5-$4

=$1

Consumer surplus is the difference between between the willing price of a consumer and the actual price paid(lesser than the willing price). It is a benefit to the consumer because they pay less than what is expected at the same value of satisfaction.

Consumer surplus is represented on a supply and demand curve by the area between the equilibrium price and the demand curve.

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olchik [2.2K]

Answer:

False

Explanation:

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3) Kellyanne is wrong in both pieces of information

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The best way to learn what people will like or dislike abought your products
AveGali [126]
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3 0
3 years ago
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Hogan Industries had the following inventory transactions occur during 2017: Units Cost/unit Feb. 1, 2017 Purchase 110 $46 Mar.
Rama09 [41]

Answer:

The answer is: Gross profit = $2,788

Explanation:

  • Feb. 1         Purchase    110 units     $46 per unit
  • March 14    Purchase    190 units    $48 per unit
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Using FIFO, what is the company's gross profit? We first calculate COGS

Cost of goods sold - 312 units:

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<u>Income statement for Hogan Industries 2017</u>

Total revenue         $19,968

<u>COGS                     ($17,180)     </u>

Gross profit             $2,788

<u>Taxes 30%             ($836.40)   </u>  

Net profit                $1,951.60

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3 years ago
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<h3>What is marketing research?</h3>

Marketing research can be defined to be the business aspect that involves a business trying to find out the needs of the target market.

The business would like to gather all the necessary information that they would need for their target customers in order to better meet their needs.

Read more on Market research here:

brainly.com/question/24906199

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2 years ago
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