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Yuliya22 [10]
3 years ago
10

Consumer surplus is represented by the area _____ the demand curve and _____ the price that the consumer pays.

Business
1 answer:
leonid [27]3 years ago
3 0

Answer:

under

above

Explanation:

Consumer surplus is the difference between the willingness to pay of a consumer and the price of the good.

Consumer surplus = willingness to pay – price of the good

For example, if the willingness to pay for a book is $100 and the price of the book is $50.

Please check the attached image for a diagram showing consumer surplus

Consumer surplus : $100 - $50 = $50

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STatiana [176]
The richard bay minerals could improve on high crime rate by requesting support/assistance from the local government. With the support, they manage to handle most of the crime activities and maintaining their productivity at the same time. Currently, they are winning against the crimes<span />
5 0
3 years ago
Jewell-rung was a canadian corporation that imported and sold men's clothing wholesale. haddad was a new york corporation that m
Oxana [17]
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6 0
3 years ago
The inventory of Cullumber Company was destroyed by fire on March 1. From an examination of the accounting records, the followin
maria [59]

Answer:

a. Merchandise lost by fire value  = $20,760

b. Merchandise lost by fire value  = $25,770

Explanation:

Net sales = $51,000 - $1,100

= $49,900

Net purchase cost = $31,000 + 1,200 - $1,500

= $30,700

a. Gross profit = $49,900 × 40%

= $19,960

Cost of goods sold = $49,900 - $19,960

= $29,940

Cost of goods sold = beginning inventory + Purchases - ending inventory

= $29,940 = $20,000 + $30,700 -  ending inventory

Ending inventory = $20,760

Merchandise lost by fire value  = $20,760

b. Gross profit = $49,900 × 30%

= $14,970

Cost of goods sold = $49,900 - $14,970

= $34,930

Cost of goods sold = beginning inventory + Purchases - ending inventory

= $34,930 = $30,000 + $30,700 - ending inventory

ending inventory = $25,770

Merchandise lost by fire value  = $25,770

5 0
3 years ago
Cragmont has beginning equity of $277,000, net income of $63,000, withdrawals of $25,000 and no additional investments by owners
Andrew [12]
<span>The ending equity is $315,000 This is just a matter of adding income and subtracting withdraws. So let's do it. "Cragmont has beginning equity of $277,000," x = $277000 "net income of $63,000" x = $277000 + $63000 = $340000 "withdrawals of $25,000" x = $340000 - $25000 = $315000</span>
3 0
3 years ago
Carrie Tune will receive $31,000 for the next 11 years as a payment for a new song she has written. Use Appendix D for an approx
r-ruslan [8.4K]

Answer:

$184,068.70

Explanation:

Given that

Annual payments = $31,000

Discount rate = 12%

Time period = 11 years

The computation of the present value is shown below:

= Annual payments  × PVIFA factor for 11 years at 12%

= $31,000 × 5.9377

= $184,068.70

Simply we multiplied the annual payments with the PVIFA factor so that the present value could arrive

Refer to the PVIFA table

6 0
3 years ago
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