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Bess [88]
2 years ago
14

You have two options for how to spend the afternoon. you can either go see a movie with your roommate or work as a tutor for the

math department. from experience, you know that going to see a movie gives you $20 worth of enjoyment, and with your student discount, a movie ticket only costs $12. if you spend the afternoon working as a math tutor, you will get paid $45. on a typical day, you wouldn't be willing to spend the afternoon working as a math tutor for less than $35. what is your economic surplus from working as a math tutor instead of going to the movies?
Business
1 answer:
erma4kov [3.2K]2 years ago
5 0

Answer: Economic Surplus : $12

Explanation: Economic surplus is the difference between benefit and cost.

In this case, since he is working as a math tutor, he will get $45, there is no other cost. But if he goes for a movie, he will have to spend $12 on movie, which is the cost he needs to bear. The economic surplus is $12 which is not spent on the movie and worked as a math tutor.

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There are simultaneous changes in the demand for and supply of tablet​ devices, with the consequences being an unambiguous decre
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Answer: c. Demand decreases and supply decreases.

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When demand for tablets decrease, the demand curve shifts to the right. The price and quantity declines. At the same time, when supply also falls, the supply curve shifts to the left leading to an increase in price and a fall in quantity.

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2 years ago
Why does a more participative management style ("tipping the pyramid over") lead to greater responsiveness to customers’ needs,
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2 years ago
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Shellhammer Company's inventory records show the following data for the month of September: Units Unit Cost Inventory, September
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Answer:

Shellhammer Company

Ending inventory = $712

Cost of goods sold = $2,492

Explanation:

a) Data and Calculations:

Date                     Item          Units           Unit Cost     Total Cost

September 1    Inventory           100           $3.34          $334.00

September 8   Purchases        450             3.50          1,575.00

September 18 Purchases        350              3.70          1,295.00

September 30 Total                900                            $3,204.00

Ending inventory                     200

Cost of goods sold                 700

Weighted Average cost = Total cost of goods available for sale/Total units available for sale

= $3,204/900 = $3.56

Value of Ending Inventory = $3.56 * 200 = $712

Value of Cost of goods sold = $3.56 * 700 = $2,492

b) The weighted average inventory costing, under the period inventory system, used by Shellhammer is an assumption that the costs attributable to ending inventory and cost of goods sold are determined from the average cost per unit and that these the average cost is ascertained at the end of the period.  Therefore, the cost of beginning inventory and purchases are accumulated and divided by the units of goods available for sale.

4 0
1 year ago
Gathering Ideas
Vsevolod [243]

Answer:

To improve the group's brainstorming, Jeanne should .

A. use flip-charts and classify ideas

You chose your favorite doodle, and put it on a reusable cup. This is an example of:

A. Crowd-storming

Explanation:

It is because the group discussion was efficient as lots of ideas come out, but due to lots of ideas, few ideas were remembered. Hence, Jeanne should use flip charts and write each and everything about that particular idea in detail, so at last, she could make a proper comparison of the ideas and pick the most feasible idea.

It is because the company took the ideas from the crowd, which represents the bulk of ideas and to makes a choice for the doodle to put it on the cup. Hence, the company stormed the ideas of the crowd and used it in its task. It is considered as an example of Crowd-storming.

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1 year ago
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