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alukav5142 [94]
3 years ago
6

Assume the world market for oil is competitive and that the marginal cost of producing another barrel of oil is $79.40 and the m

arginal benefit is $81.60. If one more barrel of oil is produced and consumed surplus changes?The Economic surplus will ____.a) decrease by $161.00.b) increase by $2.20.c) increase by $81.60.d) decrease by $2.20.
Business
1 answer:
Alona [7]3 years ago
3 0

Answer:

b. Increase by $2.20

Explanation:

Economic Surplus is the total benefit to society from production.

If an additional unit is produced the additional cost will be $79.40 and it will the additional benefit of $81.60.

So the surplus = benefit - cost = $81.60 - $79.40 = $.2.20

They are marginal quantities (change made by additional unit) so everything has been taken into account for the deriving of change to surplus.

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Answer: E) May depend on some future event occurring. It is not a characteristic of known liabilities.

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Known liabilities <u>are definitely determinable and measurable.</u>

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3 years ago
How are random events taken into consideration during both hindsight bias and overconfidence?
Orlov [11]
The hindsight bias and overconfidence, plus our eagerness to perceive patterns in random events, can cause tendencies that may lead us to overestimate our intuition. Intuition and intellect are not always accurate, therefore these factors are not trustworthy compared to scientific facts or scientific inquiry which can help us overcome our intuition’s biases and shortcomings.
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3 years ago
g When a court awards custody of a child to one parent and not the other, this is an example of: Group of answer choices all of
Simora [160]

Answer:

equitable relief

Explanation:

A court refers to an enclosed space such as a hall or chamber where legal practitioners (judges, lawyers or attorneys and a jury) converge to hold judicial proceedings.

A lawyer refers to an individual who has obtained a law degree and is saddled with the responsibility of giving legal advice, initiate and execute lawsuits for his or her clients. These legal practitioners are saddled with the legal responsibility of listening to evidence and give a verdict about legal cases.

An equitable relief also referred to as equitable remedy can be defined as judicial remedies granted to an aggrieved person by a court of equity, requiring that the other party act or refrain from indulging in a specific act because ordinary legal remedies couldn't provide the aggrieved party sufficient (adequate) restitution for an offense commited against him or her. Thus, an equitable relief (remedy) is an injunction granted by a court of equity requiring a party to a contract to either act (mandamus or specific performance) or refrain from indulging in a particular act.

In this context, when a court of competent jurisdiction awards or grants custody of a child to one parent rather than awarding it to the other, this is an example of equitable relief.

In conclusion, an equitable relief or remedy is typically a nonmonetary judgement granted by a court of equity when ordinary legal remedies fail to provide sufficient (adequate) restitution to an aggrieved party.

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3 years ago
How does the FDIC monitor banks?
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The FDIC monitor banks to ensure that they are operating within the bounds of the law and are not engaging in any illegal or unsafe practices. They also work to ensure that banks are providing customers with the best possible service and are protecting their deposits

If the FDIC finds that a bank is not meeting these standards, they will take action to correct the situation. As a result, the FDIC has a better understanding of the risks that banks face and is better equipped to protect consumers from financial fraud.

To know more about banks, click here.

brainly.com/question/14042269

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7 0
1 year ago
2.3 The Ledger and Posting
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The net change in the Cash account balance from these three transactions is $30,000

What is the company's net change in cash account balance?

The net change in company's cash balance is the excess of its cash inflows from sources minus its cash outflows from all sources, in other words, the net change in cash balance from the three transactions is the funds raised long-term debt issuance and the amounts paid for equipment and raw materials

net change in cash balance=$200,000-$150,000-$20,000

net change in cash balance=$30,000

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8 0
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