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FromTheMoon [43]

2 years ago

15

Ray buys a new tractor for $118,000. He receives consumer surplus of $13,000 on his purchase. Ray's willingness to pay is a. $11

8,000. b. $13,000. c. $131,000. d. $105,000.

1 answer:

baherus [9]2 years ago

4 0

$131,000
WTP-price paid

I hope this helps you
:)

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The wrist watch industry in a country is not very competitive. There are limited brands available and the existing firms use the

Usimov [2.4K]

Answer:

<em>B. she is confusing between price elasticity of demand and income elasticity of demand.</em>

Explanation:

Envy miscalcualte the price elasticy whhich from 1,000 to 1,100 was 12% not the 7% forecasted

The increase in income is a different factor. An increase in income will make the people in the country to consume and/or save more

but they will decide on each product market considering the price/elasticity

In this case, it was -0.12

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3 years ago

Malinda's auto dealership of imported cars made $895,000 in revenue. The manager has determined that the total expenses equal to

jarptica [38.1K]

Answer:

Profits: $297,000

Explanation:

Revenue is the money generated by a business by selling its products and services to customers. Expenses are the cost incurred in the production and selling of goods and services.

Profits arise when revenues exceed expenses.

For Malinda Auto dealership, the revenue ($895,000) exceed expenses($598,000). Therefore, the business will realize a profit.

Profit = revenue - expenses

=$895,000 -$598,000

=$297,000

8 0

2 years ago

THIS IS FOR CULINARY

enyata [817]

Answer:

D. layoffs

Explanation:

A contingency plan is an alternative plan of action in case of unexpected outcomes. It is devised and kept in place to be implemented in bad times. A contingency plan is a sort of a risk mitigation plan to help the business navigate through a bad situation efficiently.

A contingency plan for labor include measures that can help a business overcome tough seasons. The business may need to layoff some employees to save on labor in times of economic downtime

3 0

3 years ago

Last year Christine worked as a consultant. She hired an administrative assistant for $15,000 per year and rented office space (

mel-nik [20]

Answer:

Explicit costs - $51,000

Explicit costs are those for which a person incurs in actual spending of money. In this case, Christine had to pay $15,000 in wages, and $36,000 in rent ($3,000 x 12). These are expenses that she had to pay money for, and that had to be accounted for in the accounting books, and in the financial statements. These are in other words, explicit costs.

Implicit costs - $40,000

Implicit costs are simply the opportunity costs. An opportunity cost is the cost of the next more valuable alternative when faced with two or more options. No money is paid for this costs. The implicit costs for Christine were the $40,000 that she not receive as wages if she had continued working at a real state firm.

8 0

3 years ago

Franklin Corporation issues $50,000, 10%, 5-year bonds on January 1, for $52,100. Interest is paid semiannually on January 1 and

Karo-lina-s [1.5K]

Answer:

Bond interest expense = $2,290

so correct option is b. $2,290

Explanation:

given data

Bond issued = $50,000

Interest rate = 10%

interest semi-annually = 5%

time period = 5 year

to find out

amount of bond interest expense

solution

we get first Cash interest payment that is here

Cash interest payment = $50,000 × 5%

Cash interest payment = $2,500 ....................1

and Bond premium will be

Bond premium = $52,100 – $50,000

Bond premium = $2,100 .......................2

we know interest paid semi annually so time period will be = 10

so Amortization of bond premium will be here as

Amortization of bond premium = $\frac{2100}{10}$

Amortization of bond premium = $210 .................3

so Bond interest expense will be calculate as

Bond interest expense = Cash interest payment - Amortization of bond premium .......................4

put here value

Bond interest expense = $2,500 - $210

Bond interest expense = $2,290

so correct option is b. $2,290

8 0

3 years ago