Answer:
Consumer surplus
Explanation:
The consumer surplus is a measure of the difference between the price a consumer is willing to pay for a unit of a product and the price they actually pay for that product unit.
If a consumer is willing to to pay a higher amount than the actual selling price of a product, it is deduced that the consumer surplus for that product, is higher than if the consumer were charged for the product at his highest willingness point to pay.
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Answer:
option b is correct
Normal with a mean of $5.25 and a standard error of $0.28
Explanation:
Given data
mean = $5.25
standard deviation SD = $2.80
sample n = 100
to find out
sampling distribution
solution
we will find here first mean error that is
standard error = SD/ √n
put here value n and SD
standard error = 2.80 /√100
standard error = 0.28
and we know here that by central limit theorem that is state that sample distribution of sample mean is approximate normally distribute with Standard error and mean so
mean with normal is 5.25
Hence
option b is correct here
Normal with a mean of $5.25 and a standard error of $0.28
The realization that a consumer is necessary and must play a part in order to produce value is the major premise underlying the concept of (A) value co-creation.
<h3>
What is value co-creation?</h3>
- Simply said, value creation is the process of converting resources (whether physical such as materials, or non-physical such as time) into something of perceived value.
- Car manufacturers creating vehicles, farmers planting and harvesting crops, and banks providing mortgage loans are all examples of value production.
<h3>What is value internalization?</h3>
- Internalization is a term used in sociology and other social sciences to describe an individual's acceptance of a system of standards and values through socialization.
<h3>What is value integration?</h3>
- Through synergistic innovation across the nexus economy, integrated value is the simultaneous construction of several 'non-financial' capitals (particularly infrastructural, technological, social, ecological, and human capital).
<h3>Solution -</h3>
As the definition of value co-creation states that value creation is the process of converting resources into something of perceived value.
Therefore, the realization that a consumer is necessary and must play a part in order to produce value is the major premise underlying the concept of (A) value co-creation.
Know more about value internalization here:
brainly.com/question/26330420
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