A duty is a type of tax.
Consider the modern day examples of "duty free" shopping available in places like airports and certain tourist locations where people can purchase luxury goods without owing a tax to any country or locality.
Answer:
A. consumer surplus is $20 larger than producer surplus.
Explanation:
Before getting to the little mathematics attached to this, there's a few terms we need to establish.
1. Consumer Surplus - This is simply the difference in price between what consumers are willing to pay and what they end up paying.
2. Producer surplus - This is simply the difference in price between what a producer is willing to accept for a given good or services and how much they actually end up selling the goods for.
Having established those terms,
In this situation,
Consumer surplus = amount consumer is willing to pay - amount consumer pays
CS = 300 - 200
CS = 100
Producer surplus = Amount received - minimum amount producer is willing to receive
PS = 200 - ( 60× 2)
PS = 200 - 120
PS = 80
The difference between consumer surplus and producer surplus
= 100 - 80
= 20
Therefore, consumer surplus is larger than producer surplus by $20.
Answer:
ans-b
Explanation:
The ans is b, hope it helped you.Have a nive day
Answer:
The answer is 'One product and multiple market segments'
Explanation:
The market segmentation strategy here is One product and multiple market segments.
The product is one product(the magazine story) and this one product (same story) covers 16 different regions of the U.S i.e the same product is selling in 17 market segments.
The advantage of this strategy is that it helps to avoid the additional costs of developing and producing additional versions of the product.
Answer: Something is ethical if it does not cause harm and society considers it to be good. Ethical behavior is generally any action that furthers a good outcome for someone else without causing intentional harm to anyone.
Explanation: