assume a linear demand curve. the demand curve intersects the price axis at $10. the price of the good is $2 and the quantity sold is 20. calculate the consumer surplus.
Answers
Answer:
80
Explanation:
You use the area of a triangle formula (1/2b*h). In this case the base would be 20 (quantity demanded) and the height would be 8 (10-2).
The consumer surplus is $80
The demand curve is a curve that shows the relationship between the quantity demanded and the price of a good. The demand curve is downward sloping because quantity demanded is negatively related to the price of the good.
Consumer surplus is the difference between the highest amount a consumer is willing to pay for the good and the price of the good. Looking at the attached image, the consumer surplus is represented by the triangle formed under the area of the demand curve.
Consumer surplus can be determined by calculating the area of the triangle.
Area of a triangle = 0.5 x base x height
Base = 20 = quantity sold
Height = $10 - $2 = $8
Consumer surplus = 0.5 x 20 x $8 = $80
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Related Questions
QUESTION 3 of 10: Generally, budgets are created for:
a) One week
b) One month
O c) One year
Answers
Answer:
b) One month
Explanation:
Budgets are typically formulated for a one-year duration. Therefore, option c is correct.
Budgets refer to financial plans that outline the anticipated income and expenses of an individual, organization, or government entity for a specific period, usually one year.
They serve as a blueprint for allocating financial resources, setting spending limits, and achieving financial goals. Budgets provide a structured framework for managing funds, enabling effective decision-making, and ensuring financial stability.
They encompass various components, including revenue projections, cost estimates, planned expenditures, and anticipated savings. Budgets are essential tools for tracking and controlling financial activities, promoting accountability, evaluating performance, and facilitating strategic planning.
They serve as a vital tool for financial management, helping individuals and organizations make informed and efficient financial decisions.
Therefore, option c is correct.
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what documents are used in the buying of goods and services
Answers
Answer:
trans tax
Explanation:trans tax
what recognizes the potential for valuable innovations to be launched from lower organizational levels and diverse locations, including merging markets?
Answers
what recognizes the potential for valuable innovations to be launched from lower organizational levels and diverse locations, including merging markets, is known as:
"Reverse Innovation."
This is because reverse innovation is a type of innovation in which the product is originally innovated for poor neighborhoods such as developing regions, then repackaged in a way that is then sold to the rich neighborhoods such as developed regions.
Reverse innovation is a term originally coined by Vijay Govindarajan and Chris Trimble.
They claimed that reverse innovation is a kind of bottom-up innovation strategy whereby the products designed for poor areas are then redefined and sold to the rich areas.
Hence, in this case, it is concluded that the correct answer is "Reverse Innovations."
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what is the penalty for filing taxes late if you are owed a refund
Answers
Answer:
There is no penalty for filing after the deadline if a refund is due.
what is the interest rate charged per period multiplied by the number of periods per year called?
Answers
It is a strong drive to achieve goals and objectives through focus and proactive follow-through.
a.
Consistency
b.
Coordination
c.
Competence
d.
Commitment
Answers
Answer:
C
Explanation:
Competence gives you the ability or skill to do something
identify two ways to deposit money into and withdraw money out of your checking account.
Answers
Answer:
There are two ways to make deposits and withdrawals from a checking account: by going to a bank branch and working with a bank teller, or by using the nearest ATM.
Explanation:
Another term for a checking account is a time deposit.
True
Or False
Answers
Answer:
False because you only go and check your account you don't deposit anything only if you want
Explanation:
the amount of unemployment that the economy normally experiences is known as
Answers
Answer:
The natural rate of unemployment.
the u.s market is large but many other countries have what advantage over the us
Answers
Explanation:
faster growth?? uhm is this a answer chose.
Amortization ______. (Check all that apply.) Multiple select question. is calculated using the straight-line method spreads the cost of intangible assets to expense over their useful lives is used for expensing the cost of land over its useful life is in accordance with the matching principle
Answers
Statement that describes Amortization as regards this question are;
spreads the cost of intangible assets to expense over their useful lives.
is calculated using the straight-line method.
Amortization can be regarded as a process involving writing down the value of either a loan or an intangible asset. Amortization schedules helps in presentation of loan repayment by lenders.Therefore, we can calculate Amortization by utilization of straight-line method.
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Answer:
- spreads the cost of intangible assets to expense over their useful lives
- is in accordance with the expense recognition (matching) principle
- is calculated using the straight-line method
Explanation:
The point at which supply equals demand is called
Answers
………..,.,,.,……..,.,.,,
Answer:
equilibrium
Explanation:
can some one give me a crown I really want one 82 points if you do
Answers
do you mean brainliest? of course look at my latest answer
Answer:
Um... I don't think that's how Brainly works. To get brainliest, You have to answer and have the person who asked the question give you brainliest.
What is one way to set up an opportunity for job shadowing?Contact people you know and request a shadowing experience.Show up on the day you would like to shadow and request to shadow an employee.Post online that you are looking to shadow someone and wait for a reply.Go to work with a family member without contacting the organization first.
Answers
Answer:
A
Explanation:
Contact people you know and request a shadowing experience is one way to set up an opportunity for job shadowing.
You can ask your friends, family or contacts in the business to let you shadow them in order to arrange a job shadowing opportunity. Inform them of your desire to observe their work and inquire about scheduling a day or a few hours with them. Personal connections benefit this strategy, raising the likelihood of a favorable response.
It demonstrates your seriousness and respect for their time by being proactive and formal in your request. Avoid simply walking into an office without calling or relying solely on online posts as these strategies might not be effective and might be viewed as unprofessional. The secret to setting up a fruitful job shadowing opportunity is networking and making personal connections.
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what is the name of the document that tells you what you need to pay on your credit card?
Answers
Answer:
A billing statement, commonly referred to as a bill.
as consumer demand for new cars increases, tire makers and steel and aluminum suppliers may experience an increase in demand for their products, which is an example of:
Answers
The increase in demand for tire makers, steel and aluminium suppliers is an example of derived demand.
Derived demand is the demand for a good or service as a result of an increase in the demand for another good or service. Labour and raw materials usually have a derived demand.
As the demand for new cars increase, car makers would want to produce more cars in order to meet the increased demand. This would lead to an increase in the raw materials and labour that is needed to make more cars. On the other hand, if there is a decrease in the demand for new cars, there would also be a decrease in the demand for the raw materials and labour that is needed to make more cars.
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money that has been spent and cannot be recovered is known as costs.
Answers
A sunk cost is money that has already been spent and cannot be recovered. In business, the axiom that one has to "spend money to make money" is reflected in the phenomenon of the sunk cost.
What is Sunk Cost?Sunk Costs are those costs that cannot be recovered by any means, i.e., money, once invested, is gone forever.
They should not be considered for making any future decisions like whether to continue the investment or not, as these costs cannot be recovered, and decisions should only be made based on relevant costs.
Sunk costs are considered fixed costs, but remember that all fixed costs are not considered sunk costs.
One simplest example of sunk cost is employees working on a probation period. You have paid a joining bonus to the probationer, but the results aren’t satisfactory, so you terminate the probation contract and fire the probationer from their job. The joining bonus is considered a sunk cost, as you won’t be seeing it again.
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Money that has been spent and cannot be recovered is known as sunk costs.
What is sunk costs?Sunk costs are sometimes called a retrospective cost, referring to an investment already incurred that can’t be recovered. Examples of sunk costs in business include marketing, research, new software installation or equipment, salaries and benefits, or facilities expenses. By comparison, opportunity costs are lost returns from resources that were invested elsewhere.
Economists suggest that, in theory, sunk costs are not relevant to future decision-making. In practice, however, sunk costs can and do significantly influence decisions about the future. This is largely because it’s psychologically challenging to let go of previously invested time, effort, or financial resources even if the outcome of those investments fails to meet expectations. A sunk cost refers to money that has already been spent and cannot be recovered.
A manufacturing firm, for example, may have a number of sunk costs, such as the cost of machinery, equipment, and the lease expense on the factory.
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how does selling shares on the stock exchange benefit companies?
Answers
Answer:
to raise revenues
Explanation:
hope i helped
bucky’s hardware sold merchandise worth $1,200 to a customer, and offered terms of 2/10, n/30. if the customer pays within 10 days, bucky’s hardware will receive:
Answers
Assuming bucky’s hardware sold merchandise worth $1,200 to a customer, and offered terms of 2/10, n/30. if the customer pays within 10 days, bucky’s hardware will receive: $1,176
Using this formula
Amount received=Merchandise sold-(Merchandise sold ×Discount)
Where:
Merchandise sold =$1,200
Discount=2%
Let plug in the formula
Amount received=$1,200-($1,200×2%)
Amount received=$1,200-$24days
Amount received=$1,176
Inconclusion if the customer pays within 10 days, bucky’s hardware will receive: $1,176
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please help me asap!
Answers
Answer:
Indirect
Explanation:
Please give brainliest.
what are the four invoices used in foreign trade?
Answers
Explanation:
airway bill.
hope it helpful for you
which characteristic is most important in identifying which data to collect for marketing research?
Answers
The characteristics of the data includes one which will help in decisions making for marketing actions.
Let understand that "Marketing research" is the process of gathering, recording, analyzing and drawing conclusion on data collected from potential customers of a product to facilitate decision making about a product viability.
The purpose of Marketing research is to provides concrete information which is relevant for decision making in the firm.Therefore, the characteristics of data that is very important to marketing research are data which will be relevant to draw decisions for marketing actions.
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During a job interview, Pam Thompson is offered a salary of $32,000. The company gives annual raises of 4 percent. What would be Pam's salary DURING her fifth year on the job? (You may need to round to the nearest answer)
Answers
Answer:
$38,933
Explanation:
A=P( 1 + r/100)^n
A= amount
r= rate(4%)
n=period (5)
A=32,000 ( 1 + 4/100)⁵
A=32,000 (1.04)⁵
A=38,932.89
A=$38,933( nearest whole number)
During a job interview, Pam Thompson is offered a salary of $32,000. Pam's salary during her fifth year on the job is $ 37435.474.
What do you mean by the annual raise of salary?
A worker's salary increase is expressed as a percentage of their total base pay. Typically, it represents a portion of the employee's yearly compensation. Employers may utilize increments to raise or lower basic pay as well as to provide incentives.
The yearly increase % calculates the average annual percentage rate of salary increases.
Here,
Current salary= 32000
First increment will occur at the beginning of 2nd year = 32000 × (1+4%)
Second increment will occur at the beginning of 3rd year = 32000 × (1+4%) × (1+4%)
Third increment will occur at the beginning of 4th year = 32000 × (1+4%) × (1+4%) × (1+4%)
Fourth increment will occur at the beginning of 5th year
= 32000 × (1+4%) × (1+4%) × (1+4%) × (1+4%)
= 32000 × (1+4%)^4
= 32000 × (1.04)^4
= 32000 × 1.1698586
= $ 37435.474
Therefore, during a job interview, Pam Thompson is offered a salary of $32,000. Pam's salary during her fifth year on the job is $ 37435.474.
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Which of the following statements best defines
UTILITY?
A. What you can obtain for an item at a later time
B. How well something satisfies a person's wants or
needs
C. What we lose by giving up the other provided choice
D. How helpful an item is given the context of a current
situation
Answers
Answer: c
Explanation: i just took the test
UTILITY is What we lose by giving up the other provided choice Option(c) is correct. In any case, it isolates the hypothesis of financial utility from real perception and experience, since "utils" can't really be noticed.
What is a Utility?Utility is a term in financial matters that alludes to the all out fulfillment or advantage from consuming a decent or administration.
Monetary hypotheses in light of judicious decision for the most part expect that shoppers will endeavor to augment their utility. The monetary utility of a decent or administration is vital to comprehend, on the grounds that it straightforwardly impacts the interest, and consequently cost, of that great or administration.
Practically speaking, a purchaser's utility is typically difficult to gauge or evaluate. In any case, a few financial specialists accept that they can by implication gauge what is the utility of a monetary decent or administration by utilizing different models.
Utilities are organizations that work in the electric, water, oil, or gas areas. These organizations assume a significant part in modern economies and have an all out market capitalization of almost $1.6 trillion.
Therefore Option(c) is correct.
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what is business? for a boss?
Answers
often the most difficult part of computing accurate unit costs is determining the proper amount of _________ to assign to each product, service, or job.
Answers
Hope this helps!
what reflects the perceived quality of a company’s goods and services in the eyes of the public?
Answers
The company's reputation reflects the perceived quality of its goods and services.
A company's reputation will always show the perceived quality of its goods & services as well as prominence of the brand in the minds of the public.
A brand reputation is one of the most important intangible asset of a company because its gives rise to the tangible asset which means higher sales and increased profits.In conclusion, brand reputation was gained through customers trust & loyalty from the company's consistent service.
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is when a product is sold from the manufacturer to the end consumer, with no wholesale or retail
companies in between.
A. Direct distribution
B. Extraction
C. Hospitality
D. Subcontracting
Please select the best answer from the choices provided
A
0 00
D
Mark this and retum
Save and Exit
Next
Submit
Answers
Answer:
a
Explanation:
A small software company interviewed candidates for two open positions as quality assurance technicians. The final two selected are equally qualified; a young woman and a fifty year old man. In order to cut employee expenses, the IT manager offered the job to the older man at a salary $15,000 lower than the salary offered to the young woman. This violates the 1963 Equal Pay Act. Which entity is charged with enforcing the Equal Pay Act of 1963 if it is notified
Answers
Considering the scenario described in the question above, the entity that is charged with enforcing the Equal Pay Act of 1963, if notified, is "The Equal Employment Opportunity Commission (EEOC)."
The EEOC is the federal agency or entity responsible for enforcing this type of employment discrimination law.
According to the Equal Pay Act of 1963, it is a violation against candidates or citizens for companies to discriminate on wages or salary due to gender.
Hence, in this case, it is concluded that the right agency to call upon is the "The Equal Employment Opportunity Commission (EEOC)."
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the difference between personal assets and personal liabilities
Answers
Answer:
Assets include the value of securities and funds held in checking or savings accounts, retirement account balances, trading accounts, and real estate. Liabilities include any debts the individual may have including personal loans, credit cards, student loans, unpaid taxes, and mortgages.
Explanation:
Answer:
Assets: include the value of securities and funds held in checking or savings accounts, retirement account balances, trading accounts, and real estate.
Liabilities: include any debts the individual may have including personal loans, credit cards, student loans, unpaid taxes, and mortgages.
Difference between Assets & Liabilities:
Assets are what a business owns and liabilities are what a business owes. Both are listed on a company's balance sheet, a financial statement that shows a company's financial health. Assets minus liabilities equals equity, or an owner's net worth.