Assume Allison, Bob, and Charisse are the only three buyers of oranges, and only three oranges can be supplied per day.
Refer to Table 7-5. If the market price of an orange is $0.65, then consumer surplus amounts to <u>$3.60</u>
<h3>What
is consumer surplus?</h3>
Consumers' surplus is a measure of consumer welfare and is defined as the excess of social valuation of product over the price actually paid. It is measured by the area of a triangle below a demand curve and above the observed price. Since there is willingness to pay.
Therefore, the correct answer is as given above.
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The complete question goes thus:
For each of three potential buyers of oranges, the table displays the willingness to pay for the first three oranges of the day. Assume Allison, Bob, and Charisse are the only three buyers of oranges, and only three oranges can be supplied per day.
Refer to Table 7-5. If the market price of an orange is $0.65, then consumer surplus amounts to________
Answer:
D. to earn an associate's degree
Explanation:
This is false because 4 year college usually means a bachelor's degree. An associate's degree is the degree you obtain after completing your first two years of a bachelor's degree.
Answer:
Not more than 7 credit hours
Explanation:
Though the credit hours varies by institution, the standard for most institution is 3 - 6 hours for working class students.
From the list of given options, the closest to 3-6 hours is "not more than 7 hours"; hence, option D answers the question.
Answer:
a. expected retaliation from competitors.b. the cost of substitute products.c. variable costs of production.d. customers' high switching costs.
Based on the information given, it has been computed that the activation energy will be 105.8Kj.
<h3>How to calculate activition energy</h3>
From the information given,
T1 = 25 + 273 = 298K
T2 = 35 + 273 = 308J
R = 8.314J/mol
K2/K1 = 4
Therefore,
log(4) = E/(2.303 × 8.314) × [10/(298 × 308)]
= (0.602 × 2.303 × 8.314 × 298 × 308) / 10
= 105.8KJ
Therefore, the activation energy is 105.8KJ.
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