Answer:
A. consumer surplus is $20 larger than producer surplus.
Explanation:
Before getting to the little mathematics attached to this, there's a few terms we need to establish.
1. Consumer Surplus - This is simply the difference in price between what consumers are willing to pay and what they end up paying.
2. Producer surplus - This is simply the difference in price between what a producer is willing to accept for a given good or services and how much they actually end up selling the goods for.
Having established those terms,
In this situation,
Consumer surplus = amount consumer is willing to pay - amount consumer pays
CS = 300 - 200
CS = 100
Producer surplus = Amount received - minimum amount producer is willing to receive
PS = 200 - ( 60× 2)
PS = 200 - 120
PS = 80
The difference between consumer surplus and producer surplus
= 100 - 80
= 20
Therefore, consumer surplus is larger than producer surplus by $20.
Answer:
The term that best fits is:
research focused on assessing the effectiveness of a specific marketing tool.
Explanation:
When we discuss marketing tools, we imply the product development and promotional strategies and actions that a company deploys to develop and promote its products or services. They are more strategic, while marketing tactics are more operational. Marketing researches are strategic in nature. Researches are not usually conducted for marketing tactics.
A monopoly and an oligopoly are economic market structures where there is imperfect competition in the market. A monopoly market contains a single firm that produces goods with no close substitute, with significant barriers to entry of other firms. An oligopoly market has a small number of relatively large firms that produce similar but slightly different products. Again, there are significant barriers to entry for other enterprises.
The geographical size of the market can determine whether there is an oligopoly or a monopoly. A firm may dominate an industry in a particular area where there are no alternatives to the same product but have two or three similar companies operating nationwide. Thus, the firm may be a monopoly in a region but operate in an oligopoly market in a larger geographical area.
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Answer:
b. Hire an external consultant to pick new team members for you.
Explanation:
The most appropriate option, analyzing the scenario above, would be to hire an external consultant to choose new team members for you, due to the fact that there is difficulty in choosing the qualification of the team and the volunteers who applied for the positions, so an external consultant could take this decision based on adequate parameters and less supported by biased behaviors that could favor some more volunteer by affinity or another issue that was not purely professional. In this way, a fairer, less conflicting and appropriate contracting would occur for everyone in the organization.
Answer:
<u>A</u>
<u>Explanation</u>:
In this scenario note that it resulted to total dollar cost of the minutes provided been greater than the budgeted cost of estimated minutes.
Key word there is that the cost incurred is now above the budget, <u>therefore it is very likely that the technicians were being less competent than anticipated at their level, leading to greater cost.</u>