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Gennadij [26K]
3 years ago
14

Four buyers are in the market for a new car. suppose buyer 1 is willing to pay $20,000, buyer 2 is willing to pay $56,000, buyer

3 is willing to pay $34,000, and buyer 4 is willing to pay $18,000. if the market price for the car is $25,000, what is the total consumer surplus?
Business
1 answer:
iren2701 [21]3 years ago
8 0
Id take buyer 2 offer because hes doubling what your asking for it
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Production and sales estimates for June are as follows:
anastassius [24]

Answer:

Production= 13,000

Explanation:

Giving the following information:

Estimated inventory (units), June 1 18,500

Desired inventory (units), June 30 19,000

Expected sales volume (units):

Area X 3,000

Area Y 4,000

Area Z 5,500

Total= 12,500

To calculate the production for the period, we need to use the following formula:

Production= sales + desired ending inventory - beginning inventory

Production= 12,500 + 19,000 - 18,500

Production= 13,000

5 0
3 years ago
Suppose the elasticity of demand for your parking lot spaces, which are located in a downtown business district, is –1.8, and th
LekaFEV [45]

Answer:

ELASTIC

DECREASING PRICE

Explanation:

Price elasticity of demand measures the responsiveness of quantity demanded to changes in price of the good.

If the absolute value of price elasticity is greater than one, it means demand is elastic. Elastic demand means that quantity demanded is sensitive to price changes.

The demand for your parking lot spaces is elastic. if the price of parking is reduced, the demand for parking would rise

4 0
3 years ago
You are trying to decide whether to take a vacation. Most of the costs of the vacation (airfare, hotel, and forgone wages) are m
nasty-shy [4]

Answer:

The correct answer is to put the two variables in the same type of measure.  

Explanation:

To begin with, in order to compare to different variables that are in different measures the correct way to proceed is to put them in the same measure so therefore they will be comparable with each other. Once said that, in this case the person should put the psychological benefits in economics benefits as it is the other variable and in order to do that the person should think of what aspects of his productivity would increase if he takes the vacations and gains the psychological benefits. For example, after getting back from the holidays he may feel himself less stress and more relax and therefore that he may be able to either do more job, more studies or more excercises and all that can impact in an economic way.

7 0
3 years ago
Suppose OPEC oil cartel announces that it will increase production of oil. Using supply and demand analysis to predict the effec
NISA [10]

Answer:

The first step is to show where the supply curve will shift, and in this case, the supply curve will shift to the right.

This is because OPEC has decided to increase oil production, or in other words, it has decided to shift the oil supply to the right. After this, the equilibrium price will probably fall, unless demand also rises proportionally.

8 0
3 years ago
In two to three sentences, answer the following:
VladimirAG [237]

Answer:

The information that we can get from stock quote is about bidding price, details of previous bidding, etc.

Explanation:

A stock quote can be defined as the last price of stock of exchange. It is the price on which the traders and the buyers consented in their last trade or exchange.

<u>The details that a stock quote provides is the price of last bid, volume of trade, bid price, volume of trade</u>. The buyers and traders can access this information either on their phones, newspapers, news media, online portals etc. The stock quote is shown in decimals.

4 0
3 years ago
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