Answer:
Equilibrium price and quantity
$6.44 and 6768
Consumer surplus
$571,081
Producer Surplus
$5,288
Explanation:
In this question, we are asked to calculate equilibrium price and quantity, consumer surplus and producer surplus.
Please check attachment for complete solution and step by step explanation
Answer:
paradigm shift
Explanation:
Based on the information provided within the question it can be said that this is an example of a paradigm shift. This term refers to a fundamental change within an a company's or entity's set of discipline or norms of it's basic concepts. Which in this scenario adding same day home delivery drastically changes the basic concept of an in person organic food grocery store as people are able to order online and never have to set foot into the store. Which may even lead the store to close their brick and mortar store and function strictly online.
Answer:
Greater than marginal cost.
Explanation:
A monopoly is a market structure which is typically characterized by a single-seller who sells a unique product in the market by dominance. It is also known as oligopoly, wherein the seller has no competitor because he is solely responsible for the sale of unique products without close substitutes. Any individual that deals with the sales of unique products in a monopolistic market is generally referred to as a monopolist.
Also, a single-price monopolist is an individual or seller that sells each unit of its products to all its customer at the same price. Hence, a single-price monopolist doesn't engage in price discrimination among its customers (buyers).
At the level of output at which a single-price monopolist maximizes profit, price is greater than marginal cost because the marginal revenue would be below the demand curve.
However, if the marginal cost is greater than the price, the monopolist will not make any profit.
<em>In a nutshell, profit maximization for the single-price monopolist occurs at the point where marginal cost is equal to marginal revenue (MC = MR) on the graph of price (P) against quantity (Q) of goods. </em>
Answer:
The amount of pension expense reported by the company is $68 Million
Explanation:
the particulars of pension expense that will recognized and reported by the company.
Service Cost $44 Million
Add: Interest Cost <u>$50 Million</u>
Total Cost $94 Million
Less: Expected Return on Plant Asset <u> $31 Million</u>
$63 Million
Add: Amortization of a prior service cost <u>$05 Million</u>
Pension expense reported by the company $68 Million
Thus, the Pension expense reported by the company is $68 Million
Answer:
The correct answer is unorganized taxpayers to well-organized interest groups.
Explanation:
Public choice theory seeks to study the problems of political science applied to economics. A positive public election means that the decisions of politicians face the needs of civil society. In the case of the example, it is easy to determine towards whom the work of people in political positions should be oriented, and it is by definition to unorganized communities with some type of unsatisfied basic need.
