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Ad libitum [116K]
2 years ago
11

There are four consumers willing to pay the following amounts for haircuts, and there are four haircutting businesses with the f

ollowing costs: Consumers' Willingness to Pay Shen: $35 Manuel: $50 Poornima: $40 Valerie: $25 Firms' Costs Firm A: $25 Firm B: $40 Firm C: $30 Firm D: $45 Each firm has the capacity to produce only one haircut. For efficiency, should be given.
Business
1 answer:
nekit [7.7K]2 years ago
5 0

Answer:

a. 4 haircuts

b. $10

Explanation:

a. Calculation to determine For efficiency how many haircuts can be given?

Basd on the information given For efficiency only 4 haircuts can be given reason been that every of consumer are willing to pay in order to cover the producers costs.

b. Calculation to find out how large will be the total surplus

Total surplus =($35 Manuel+$50 Poornima+$40 Valerie+$25 Firms)-(25 Firm B+ $40 Firm C+$30 Firm D+ $45)

Total surplus =$150-$140

Total surplus =$10

ThereforeTotal surplus is $10

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A thief steals an ATM card and must randomly guess the correct three​-digit pin code from a 9​-key keypad. Repetition of digits
Dennis_Churaev [7]

Answer:

The thief has a 0.11% probability of hitting the pin code on the first try.

Explanation:

Simply, if the ATM card has a 3-digit code that can be repeated, and the board has 9 numbers (for example, from 1 to 9), we must start from the smallest number that could be formed with these numbers to the highest number that these numbers could also compose, which in the case would be 111 and 999. Then, 889 different numbers could be formed (it is the distance between 111 and 999), with which the possibility of hitting the key to the first attempt would be 1 in 889 times, or 1/889.

To take the probability to a percentage, we must know that 889 / 8.89 gives 100. Therefore, dividing 1 / 8.89 we will know the percentage of probabilities of hitting the key on the first attempt: 1 / 8.89 = 0.11.

This shows us that the thief has a 0.11% probability of hitting the key on the first try.

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2 years ago
​you consider the situation, roll up your sleeves, and get to work. what should be the first step you take in obtaining the info
Alina [70]
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2 years ago
Inheriting someone else’s _______ is one of the drawbacks of buying an existing business.
vaieri [72.5K]

Answer:

problems

before

franchise

idea

Any two of these:

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pf

3 0
3 years ago
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Suppose the majority of students who are graduating in May from a large university have found jobs and signed employment contrac
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Answer:

<u>increase </u>, <u>reduce </u>

Explanation:

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Aggregate demand will increase as a consequence.

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