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MArishka [77]
2 years ago
3

Suppose there are four firms that are each willing to sell one unit of a good. Each firm has a different minimum price that they

are willing to sell for: Firm A $6, Firm B $7, Firm C $10, and Firm D $12. If the market price is $11, then the total producer surplus is _________.A) $10. B) $11. C) $33.D) $9.
Business
1 answer:
motikmotik2 years ago
3 0

Answer:

A) $10

Explanation:

Producer surplus is the difference between the least amount sellers are willing to sell their product and the price of the product.

Producer surplus for firm A = $11 -$6 = $5

Producer surplus for firm B = $11 - $7 = $4

Producer surplus for firm C = $11 - $10 = $1

Firm D does not make a producer surplus because the producers minimum price is greater than the market price

Total producer surplus = $5 + $4 + $1 = $10

I hope my answer helps you

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Exercise 10-3 Sell or process further LO P2 Cobe Company has already manufactured 28,000 units of Product A at a cost of $28 per
kozerog [31]

Answer:

The company should process the units further.

Explanation:

Base on the scenario been described in the question, we can be able to use the method to prepare an analysis that shows whether the 28,000 units of Product A should be processed further or not.

Sell as is Process

further

Sale as is (28,000 units x $25.00) $700,000

Process further (5,600 units x $105) + (11,200 x $70) $1,372,000

Cost to process further (420,000)

Incremental income (loss) $700,000 $952,000

The company should process the units further

7 0
2 years ago
Paul worked as an artisan at a furniture company where a set of artisans were required to produce a specific part of a product,
SpyIntel [72]

Answer:

Challenge

Explanation:

Challenge is considered as an entrepreneurial advantage because it tend to 'force' people to actively improve themselves and find out inventive way to solve a problem.

When people feel that their job is not challenging enough, overtime they will feel that their activities become stale and boring. This will lead to the situation where they become unmotivated to even to come to work.

Having enough challenge at your work will keep you curious.

Like Paul, your work will make you feel excited and strive to prove yourself. This will make you constantly try to adapt to new things and keep improvising your craft.

6 0
2 years ago
Audreys free-throw percentage so far this season is .875. If she makes only 13 of her next 20 free throws, her percentage will d
otez555 [7]

Answer:

245 free throws

Explanation:

x will be number of times Audreys makes a shot, and let y be total number of the shots.

x/y = .875

(x+13)/(y+20) = .860

Let solve for x in equation 1

x = .875y

We will plug the for x in the equation 2

(.875y+13)/(y+20)

= .860

.875y + 13

= .860y + 17.2

.015y = 4.2

y = 280

Audreys has taken 280 shots.

We will Plug that back into the equation 1 in order to find out how many Audreys made.

x/280 = .875

x = 245

Hence :

Audreys made 245 free throws

6 0
2 years ago
Now, assume that Addison’s savings institution modifies the terms of her account and agrees to pay 5.8% in compound interest on
love history [14]

Answer:

Addison will have $ 1,661 in her account in nine years.

Explanation:

This problem requires us to calculate value of our investment of $ 1000 dollars after nine years. The interest on the investment is 5.8% compounded annually.

This problem can be solved by using simple compounding formula given below.

Future Value = Present Value (1+interest rate%)^-period

Future Value = 1,000 (1+5.8)^9

Future = $ 1,661

5 0
2 years ago
Sean’s mother had to make an emergency purchase of a new tire because her tire went flat while she was traveling to the store. S
Tresset [83]

Answer:

c. She should pay with a credit card.

Explanation:

Credit cards are basically loans that the banks give to the customer to use and pay back before the due date.

Now if Sean's mother does not know how much money she has, she must use the credit card because to be financially responsible and pay the type services their due amount.

Later she can check her account details and make payments to the bank as per requirement.

8 0
2 years ago
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