Answer and Explanation:
A consumer surplus is the gain a consumer makes by paying less than he is willing to pay for a product. Example if a consumer is willing to pay $300 for a mobile phone but pay $200 for the phone, the consumer surplus is $100
Given that the demand function is P=60-Q
And price is 30
Therefore consumer surplus is, substitute 30 in p
30=60-Q
30-60=-Q
-30=-Q
Q=-30/-1
Q=30
Therefore consumer surplus = 30
Answer:
C. General public
Explanation:
General public refers to people who are not part of any particular group but usually have an effect in an organization's ability to meet its objective. It refers to people of the society. With the New York city Marathon attracting a viewership of 300 million people worldwide and over 1 million fans in attendance, Cape Sky by sponsoring the events intends to gain advertisement to this general public.
Answer:
Probability sampling.
Explanation:
Probability Sampling is a sampling method whereby sample from a bigger population are chosen through the use of probability theory. For a participant to be chosen as a probability sample, he or she must be chosen through a random selection. The most vital requirement in probability sampling is that everyone should have an equal chance of being selected e.g. if there is a population of 200 people, everyone involved will have an odd of 1 in 200 to be selected.
Probability sampling provides the best chance to get a sample that truly represents the population.