1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Andreas93 [3]
2 years ago
13

Andrew paid $30 to buy a potato cannon, a cylinder that shoots potatoes hundreds of feet. He was willing to pay $45. When Andrew

's friend Nick learns that Andrew bought a potato cannon, he asks Andrew if he will sell it for $60, and Andrew agrees, since he would have sold it for $45. Nick is thrilled, since he would have paid Andrew up to $80 for the cannon. Andrew is also delighted. Determine the consumer surplus from the original purchase and the additional surplus generated by the resale of the cannon.
Business
1 answer:
maria [59]2 years ago
5 0

Answer:

$15

$35

Explanation:

Calculation to Determine the consumer surplus from the original purchase and the additional surplus generated by the resale of the cannon

Consumer surplus from the original purchase=$45-$30

Consumer surplus from the original purchase=$15

Additional surplus generated by the resale of the cannon=$80-$45

Additional surplus generated by the resale of the cannon=$35

Therefore the consumer surplus from the original purchase is $15 and the additional surplus generated by the resale of the cannon is $35

You might be interested in
Gilbert City had the following transactions involving resource inflows into its general fund for the year ended June 30, 20X8:
Advocard [28]

Answer:

$2,289,500

Explanation:

Preparation of the schedule to show the amount of revenue that should be reported by Gilbert’s general fund on the statement of revenues, expenditures, and changes in fund balance for the year ended June 30, 20X8

Gilbert City

REVENUE REPORTED by the General Fund

For the Year Ended June 30, 20X8

Property tax revenue $1,862,000

[$2,000,000-$100,000-($2,000,000-$100,000)*2%)]

Interest revenue on advance $1,500

Grant revenue used to acquire computer equipment $235,000

Sales tax revenue $125,000

Liquor license revenue $66,000

Total revenue reported $2,289,500

Therefore the amount of revenue that should be reported by Gilbert’s general fund on the statement of revenues, expenditures, and changes in fund balance for the year ended June 30, 20X8 is $2,289,500

3 0
2 years ago
​U(X,Y)equals=20Xplus+80Yminus−Upper X squaredX2minus−2Upper Y squaredY2 where X is his consumption of CDs with a price of ​$11
ankoles [38]

Answer:

The number of CDs = 111.36

The number of movie videos = 242.72

N/B: I choose not to round up the answers.

Explanation:

The method used is the Lagrangian method. Basically, the optimization problem we are trying to solve is  the utility function u(x,y) = 20x+80y -x^2 -y^2

subject to the constraint

11x + 22y = 6565.

So the optimization problem(Lagrangian) is

\Delta = 20x + 80y -x^2 -y^2- \lambda(11x+22y-6565),

where \lambda is a constant called the Lagrange multiplier.

To find the optimal consumption, we need to maximize the Lagrangian with respect to the variables x,y,\lambda. This we do by differentiating \Delta with respect to each variable and then equate to 0.

\Delta_x : 11\lambda = 20 - 2x ........................(1) \\\Delta_y: 11\lambda = 40 -y .........................(2) \\\Delta_\lambda = 11x + 22y = 6565............................(3) \\

Equate (1) and (2), to get y = 20+2x and substitute into (3) to get x = 111.36. Substituting x = 111.36 into 20+2x to get the corresponding value of y.

7 0
3 years ago
n computing the current period's manufacturing cost per equivalent unit, the FIFO method of process costing considers: (CPA adap
kykrilka [37]

Answer:

C. current period costs less cost of beginning work-in-process inventory

Explanation:

While calculating the current period manufacturing under FIFO method the cost of beginning work in process will be deducted as was incurred in previous period, for the current period only the current period cost will be considered.

Though the FIFO method is based on first in first out principle where opening inventory will be sold first, but the cost incurred earlier in previous period will not be considered.

Correct statement is C

3 0
3 years ago
What were the economic changes that revolutionized manufacturing in the eighteenth century and led to the factory system?
Daniel [21]

Answer:

The industrial revolution affected the whole global economy, social relations, and culture.

The industrial revolution changed how goods were manufactured, and it all started with the European accumulation of capital and the invention of the steam engine.

The two major sources of energy were coal and oil that were used to power steam engines that moved machinery using water steam. That led to work specialization and urbanization (people moving into large urban areas).

The industrial revolution first started in northwestern Europe, but it then spread to the US, Russia and Japan. The global economy developed new patterns of global trade and production between nations that produced resources and those that processed them and produced goods.

Exporting economies grew around the world because of the need for exporting both raw materials and food supplies from resource producing nations, and the need for exporting finished goods form industrialized nations.

7 0
3 years ago
Mo Meek, Lu Ling, and Barb Beck formed the MLB Partnership by making capital contributions of $75,600, $294,000, and $470,400, r
MA_775_DIABLO [31]

Answer:

salary allowances of $83,600 to Mo, $62,700 to Lu, and $94,500 to Barb; interest allowances of 10% on their initial capital investments; and the balance shared as follows: 20% to Mo, 40% to Lu, and 40% to Barb.

net income $498,000, total distributions:

  • Mo = $83,600 + (20% x $257,200) = $135,040
  • Lu = $62,700 + (40% x $257,200) = $165,580
  • Barb = $94,500 + (40% x $257,200) = $197,380

First we need to close Income Summary account to each partner's capital account:

December 31, 202x

Dr income summary 498,000

    Cr Mo Meek, capital 135,040

    Cr Lu Ling, capital 165,580

    Cr Barb Beck, capital 197,380

then we close the drawings accounts to the capital accounts of each partner:

December 31, 202x

Dr Mo Meek, capital 39,300

    Cr Mo Meek, drawings 39,300

Dr Lu Ling, capital 53,300

    Cr Lu Ling, drawings 53,300

Dr Barb Beck, capital 69,300

    Cr Barb Beck, drawings 69,300

3 0
3 years ago
Other questions:
  • Although most alexandria staff are voracious readers, no one has read all of the books sold by alexandria and most know some are
    12·1 answer
  • Last year, Nikkola Company had net sales of $2,299,500,000 and cost of goods sold of $1,755,000,000. Nikkola had the following b
    14·1 answer
  • Jane Doe earns $58,800 per year and has applied for a(n) $99,000, 30-year mortgage at 9 percent interest, paid monthly. Property
    8·1 answer
  • The term _____________ describes a situation where a ________________ causes a reduction in the buying power of income, even tho
    8·1 answer
  • Sailmaster makes high-performance sails for competitive windsurfers. below is information about the inputs and outputs for one m
    8·1 answer
  • When a home is constructed, consideration is given to the positioning of the building relative to its surroundings and the sun,
    5·1 answer
  • 19. Colombia produces coffee with less labor and land than any other country; it therefore surely has Select one: a. an absolute
    12·1 answer
  • You run a pizza delivery service in the greater New York area, delivering to Brooklyn, the Bronx, and Queens. How would you targ
    11·1 answer
  • Match the types of expenses with the correct descriptions
    9·2 answers
  • Why is it important to have a digestive deposition transcript prepared before trial?
    11·2 answers
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!