The given statement "the total surplus in a market does not change when the government imposes a tax on that market because the loss of consumer surplus and producer surplus is equal to the gain of government revenue" is true.
Total surplus, often known as social welfare, is the overall benefit obtained by consumers and producers from trading in a market. It is a calculation of the total gains from trade for the two parties. In the simplest of terms, total surplus is calculated as the sum of consumer surplus and producer surplus in a market. Suppose the government imposes a tax on a market. It raises the price of the goods to the consumer and reduces the price received by the producer.
The effect of the tax on total surplus, on the other hand, is uncertain. If the decrease in consumer surplus and producer surplus caused by the tax is equal to the increase in government income generated by the tax, the total surplus remains unchanged. In this case, the reduction in surplus caused by the tax is balanced by the increase in government revenue.
Consumer surplus is the difference between the price a consumer is prepared to pay for a product and the actual price he or she pays for it. It's the area beneath the demand curve and above the market price. The consumer surplus formula is the highest amount the consumer is willing to pay minus the market price.
Producer surplus is the difference between the price the producer receives for a product and the lowest price he or she would have accepted for the product. It is equal to the area above the supply curve and below the market price. The producer surplus formula is the market price minus the lowest acceptable price for the good.
For more about government revenue:
https://brainly.com/question/28334395
#SPJ11
Saved Question 34 (1 point) In competitive markets O the products sold are different depending on the firm selling the product. O buyers can expect to find consistently low prices and wide availability of the goods that they want. O producers can expect to be able to set prices at the level they choose. O it is hard for a seller to enter the market due to barriers to entry.O firms will leave the market if they are making economic profits.
In the following question, among the given options, In competitive markets, buyers can expect to find consistently low prices and wide availability of the goods that they want.
This statement is true. In a competitive market, the prices are low and the goods are widely available because of the existence of numerous suppliers who are all competing to sell their products. As a result, there is no single producer who is able to control the market, and therefore, prices remain competitive. Thus, buyers benefit from the lower prices and wide availability of goods. In such markets, producers cannot set prices at the level they choose. Instead, they must adjust their prices in order to compete with other producers.
Additionally, in competitive markets, it is easy for new sellers to enter the market, and so there are no barriers to entry. As a result, the market is always open to new suppliers, which helps keep prices low and ensures that the market remains competitive. Finally, firms will leave the market if they are making economic losses, not profits. If they make losses, they will not be able to sustain their business, and so they will exit the market.
For more such questions on markets,
https://brainly.com/question/25369230
#SPJ11
teddy's pillows had beginning net fixed assets of $472 and ending net fixed assets of $552. assets valued at $320 were sold during the year. depreciation was $44. what is the amount of net capital spending?
The amount of net capital spending is $124. Depreciation is subtracted from total capital expenditure to determine net capital spending.
The term "net capital spending" refers to the net sum that a firm spends to purchase fixed assets over a given time period, which shows the fixed asset growth of the organization.
Given,
Net fixed assets beginning = $472
Net fixed assets ending = $552
Depreciation = $44
Formula:
Net capital spending = Net fixed assets ending - Net fixed assets beginning + Depreciation
= $552 - $472 + $44
= $80 + $44
= $124
Thus, the net capital spending is $124.
Learn more about Net Capital, here:
https://brainly.com/question/32014067
#SPJ12
which of the following is not true about tps information systems? group of answer choices tps captures and processes data from day-to-day business activities. batch processing processes all collected data as a group. oltp is used for routine processing tasks, such as printing monthly invoices. examples of a tps include deposits, payments, orders, and reservations.
The following is not true about TPS (Transaction Processing System) information systems: OLTP is used for routine processing tasks, such as printing monthly invoices.
What is TPS?A Transaction Processing System (TPS) is a type of information system that captures and processes data from day-to-day business operations. TPS is designed to help businesses conduct their daily operations effectively by processing transactions that occur during the course of regular operations.
What is the significance of TPS?The significance of TPS can be demonstrated in terms of speed and accuracy. In order to keep up with a large amount of transactions that take place during the course of regular business operations, TPS must be capable of processing data quickly and accurately.
What are the types of TPS?Batch processing is a type of TPS that processes all collected data as a group. The Online Transaction Processing System (OLTP) is used for routine processing tasks, such as printing monthly invoices, and is a type of TPS.
Learn more about TPS here:
brainly.com/question/29811585
#SPJ11
country y has a population of 1,500, of whom 375 work 7 hours a day to make 128,000 final goods. country z has a population of 2,200, of whom 880 work 5 hours a day to make 384,000 final goods.
a.country y has higher productivity and higher real gdp per person than country z.
b.country y has lower productivity but higher real gdp per person than country z.
c.country y has higher productivity but lower real gdp per person than country z.
d.country y has lower productivity and lower real gdp per person than country z.
The data provided can be used to compare and contrast the productivity of the two nations, Country Y and Country Z. the answer is b. Country Y has lower productivity but higher real GDP per person than country Z.
Based on the information given, we will now go ahead and compare these two nations based on their productivity and real GDP per person.Productivity refers to the amount of output produced per unit of input, whereas real GDP per person is calculated by dividing the nominal GDP by the population. This is given as follows;
Real GDP per person= Nominal GDP/ Population. The population of country Y is 1500, and out of that, 375 work 7 hours a day to produce 128,000 final goods. The productivity of country Y can, therefore, be calculated as follows;Productivity= Quantity of goods produced/ Number of workers/Hours worked= 128,000/375/7= 48.57. The population of country Z is 2200, and out of that, 880 work 5 hours a day to produce 384,000 final goods. The productivity of country Z can, therefore, be calculated as follows;
Productivity= Quantity of goods produced/ Number of workers/Hours worked= 384,000/880/5= 87.27. From the calculation, it is clear that Country Z has higher productivity as compared to Country Y. However, the comparison of the real GDP per person of the two nations can be used to make a final decision on which country has the best productivity. Based on the data provided, the real GDP per person of country Y is calculated as;Real GDP per person= Nominal GDP/ Population= 128,000/1500= $85.33. The real GDP per person of country Z is calculated as;Real GDP per person= Nominal GDP/ Population= 384,000/2200= $174.54. From the calculations, it is clear that country Z has a higher real GDP per person as compared to country Y. Therefore, country Y has lower productivity but higher real GDP per person than country Z.
For more questions on productivity
https://brainly.com/question/13023571
#SPJ11
Nico is working on a PR plan to raise awareness for a new micro-loan program. However, he is struggling with how to tell if he is successful. He knows he needs to develop a ___________ objective so he can better observe his results.
Nico is working on a PR plan to raise awareness for a new micro-loan program.
However, he is struggling with how to tell if he is successful. He knows he needs to develop a measurable objective so he can better observe his results. What is a measurable objective? A measurable objective is a goal that can be assessed using a quantitative or qualitative evaluation method. A measurable objective is an outcome-based approach that determines whether a campaign or business objective has been accomplished or not. Measurable objectives should be specific and actionable, and they should help people to establish clear and achievable goals for their projects. Nico is having trouble determining if he is successful with his PR strategy to raise awareness for a new micro-loan program. Nico must create measurable objectives so that he may observe the results of his strategy. Measurable goals allow individuals to track their performance by setting specific objectives, measuring their success, and ensuring that they achieve them.
Read more about public relations here:https://brainly.com/question/943156
#SPJ11
which of the following was not highlighted as an important strategic dimension of interest for strategic group mapping? a. company size b. price range c. geographical scope d. product range
The answer is a. - company size was not highlighted as an important strategic dimension of interest for strategic group mapping. Strategic group mapping focuses on the strategic dimensions of geographical scope, price range, and product range.
Strategic Group MappingStrategic Group Mapping (SGM) is a management tool used to analyze the competitive market environment in which a company operates.
The following are the characteristics of the four strategic dimensions of interest for strategic group mapping.
1. Price Range: This refers to the range of prices that a company charges for its products or services. It influences the company's target market and competitive position.
2. Geographical Scope: This refers to the geographical area where the company operates. It determines the size of the company's market and the level of competition it faces.
3. Product Range: This refers to the range of products or services that the company offers. It influences the company's target market and competitive position.
4. Company Size: This refers to the size of the company in terms of revenue or market share. It influences the level of competition a company faces and its ability to compete.
Learn more about strategic group mapping here:
https://brainly.com/question/17304685
#SPJ11
which of the following statements regarding liabilities on the statement of financial position is correct? they are categorized as fixed or variable. any outstanding mortgage balance is reported as its original amount.
The correct statement regarding liabilities on the statement of financial position is: any outstanding mortgage balance is reported as its original amount.
What is a statement of financial position?A statement of financial position also known as a balance sheet, is a financial report that details a company's financial condition at a particular time. It includes the company's assets, liabilities, and equity, which are all listed in order of liquidity. The statement of financial position reveals a company's assets, liabilities, and shareholder equity for a specified period, typically at the end of an accounting year or quarter.
The statement of financial position is frequently used in conjunction with the income statement and cash flow statement to evaluate a company's financial health. Liabilities on the statement of financial position are the amounts that the company owes to its creditors. A mortgage is an example of a liability. Mortgages are debts that a borrower has contracted to pay back over time.
A mortgage loan is a type of debt used to purchase a home, commercial property, or other type of real estate. When a mortgage is acquired, the outstanding balance is reported on the statement of financial position as its original amount, which is the amount that was borrowed. This is the correct statement regarding liabilities on the statement of financial position.
Learn more about Financial position here:
https://brainly.com/question/28286358
#SPJ11
Which of the following products is most likely to be manufactured through the process of standardization?
Premium jewelry
Custom artwork
Bridges
Tailor-made suits
Television sets
Television sets is most likely to be manufactured through the process of standardization. Television sets are the most likely product to be manufactured via the process of standardization because it is a mass-produced item that must be identical and consistent in order to function effectively.
What is Standardization?Standardization is the method of creating a standardization on some item or procedure in order to ensure uniformity, consistency, and reliability. This process is used to increase efficiency and reduce costs, particularly in industrial and commercial settings. For example, in the production of automobile parts, the parts are standardized so that they can be easily assembled and tested. The TV set must meet specific quality criteria in order to deliver a consistent, high-quality viewing experience to customers, which can only be done through standardized production methods.
Learn more about Standardization here: https://brainly.com/question/15262909
#SPJ11
What are the manned aircraft or ships guided by remote control or onboard computers called?
A. engineers
B. drones
C. diplomats
D. phlebotomists
(THIS IS CAREER EXPLORATION)
Answer:
drones
Explanation:
Drones is the best answer
What term describes the method of doing business by which a company sustains itself?
The term that describes the method of doing business by which a company sustains itself is known as a business model.
A business model refers to the strategy that a company uses to generate revenue and make a profit from its operations. It describes the value a company provides to its customers, how it delivers that value, and how it monetizes it.
There are various types of business models, including direct sales, subscription, freemium, advertising-based, and franchise. Each model is suited to different types of businesses and markets, and no single model is best for all companies. Companies need to choose a business model that aligns with their goals, values, and competitive advantages in the market. Companies that are successful in sustaining themselves over time often have a well-defined business model that enables them to adapt to changing market conditions and maintain a competitive edge.
Learn more about Business Models: https://brainly.com/question/24448358
#SPJ11
Your real income is Multiple Choice The amount of money you receive during a given time period. Measured in current dollars. The purchasing power of the money you receive. The same as your nominal income in times of high inflation.
The real income is the amount of money you receive during a given time period measured in current dollars.
It is important to understand that this is different from nominal income, which is the amount of money that you have earned before accounting for inflation. In times of high inflation, real income and nominal income may be the same.
Real income is important to consider when determining your overall economic status, as it will provide a more accurate representation of your purchasing power. In other words, it will tell you how much you can actually buy with the money you are receiving. In times of high inflation, it is important to be aware of this difference so you can budget your money accordingly.
It is also important to understand that real income can be affected by changes in the price level. Inflation affects the purchasing power of money and can cause the real income to decrease even if the nominal income remains the same. Similarly, deflation will lead to an increase in real income. This is why it is important to consider real income when assessing your financial situation.
In conclusion, real income is the amount of money you receive during a given time period measured in current dollars. It is different from nominal income, which is the amount of money that you have earned before accounting for inflation. In times of high inflation, real income and nominal income may be the same, but it is important to be aware of the difference so you can budget your money accordingly. It is also important to understand how changes in the price level can affect real income.
Learn more about real income:https://brainly.com/question/28920570
#SPJ11
coleridge company estimates that its production workers will work 125,000 direct labor hours during the upcoming period and that overhead costs will amount to $750,000. assume overhead to be allocated on the basis of direct labor hours. what predetermined overhead rate would be used to apply overhead to production during the period?
The predetermined overhead rate that would be used to apply overhead to production during the period is $6 per direct labor hour.
Coleridge Company estimates that its production workers will work 125,000 direct labor hours during the upcoming period and that overhead costs will amount to $750,000. Assume overhead to be allocated on the basis of direct labor hours.
What predetermined overhead rate would be used to apply overhead to production during the period?The predetermined overhead rate that would be used to apply overhead to production during the period is $6 per direct labor hour.
How to calculate predetermined overhead rate?Predetermined overhead rate is calculated by dividing estimated overhead by estimated activity level.
Here is the formula for calculating predetermined overhead rate:
Predetermined Overhead Rate = Estimated Overhead / Estimated Activity Level
Given the following information: Estimated Overhead = $750,000
Estimated Activity Level = 125,000 direct labor hours
Using the formula:
Predetermined Overhead Rate = $750,000 / 125,000
direct labor hours= $6 per direct labor hour
Therefore, the predetermined overhead rate that would be used to apply overhead to production during the period is $6 per direct labor hour.
To know more about overhead, click on the link below:
https://brainly.com/question/29037936#
#SPJ11
Sofia (single) is a 50 percent owner in Beehive LLC (taxed as a partnership). Sofia does not do any work for Beehive. Beehive LLC reported $600,000 of taxable business income for the year (2022). Before considering her 50 percent business income allocation from Beehive and the self-employment tax deduction (if any), Sofia's adjusted gross income is $150,000 (all employee salary). Sofia has $35,000 in itemized deductions. Answer the following questions for Sofia. Note: Leave no answer blank. Enter zero if applicable. b. Assuming the income allocated to Sofia is not from a specified service trade or business, what is Sofia's deduction for qualified business income? Assume Sofia's share of wages paid by Beehive LLC is $130,000 and her share in the unadjusted basis of qualified property used by Beehive was $300,000. c.What is Sofia's net investment income tax liability (assume no investment expenses)? d. What is Sofia's additional Medicare tax liability?
b. Assuming the income allocated to Sofia is not from a specified service trade or business, Sofia’s deduction for qualified business income would be $300,000. This is calculated by multiplying her 50% ownership of Beehive LLC ($600,000) by the total wages paid by Beehive LLC ($130,000) and her share in the unadjusted basis of qualified property used by Beehive LLC ($300,000), resulting in a total of $430,000. The deduction is then limited to 20% of her taxable income which would be $150,000, resulting in a deduction of $300,000.
c. Sofia’s net investment income tax liability would be $0. This is because her adjusted gross income (AGI) of $150,000 does not exceed the threshold of $250,000 for single filers, and she does not have any net investment income.
d. Sofia’s additional Medicare tax liability would also be $0. This is because her wages are below the threshold of $200,000 for single filers, and she does not have any other income sources. Therefore, she would not have to pay the additional Medicare tax.
Know more about Income here :-
https://brainly.com/question/14732695#
#SPJ11
The leader of the Texas House of Representatives is the _____, and he or she has a team of helpers who assign members to committees and direct bills to the proper committees for consideration.A.GovernorB.Lieutenant GovernorC.Chairman of the General CommitteeD.Speaker of the House
The leader of the Texas House of Representatives is the (D) Speaker of the House, and he or she has a team of helpers who assign members to committees and direct bills to the proper committees for consideration.
The Speaker of the House is the leader of the Texas House of Representatives, according to the question. The Texas House of Representatives is one of the two chambers of the Texas Legislature, with the other being the Texas Senate.
The Speaker of the House is chosen by the members of the Texas House of Representatives.
The Speaker of the House of Representatives is responsible for organizing and directing the actions of the House, as well as ensuring that all legislation that passes through it is given a fair hearing.
They have a team of assistants who are responsible for assigning members to committees and directing bills to the appropriate committees for review.
Therefore, the correct answer to this question is D. Speaker of the House.
To know more about Texas House, refer here:
https://brainly.com/question/21296285#
#SPJ11
csi inc uses accrual basis accounting. during april, the company recorded sales revenue 50,000 from sales of goods to customers who promised to pay in may. during may, the company received payments from these
Accounting on an accrual basis is used by Case Ink. The business generated sales revenue of $50,000 in April from the sale of goods to clients who agreed to pay in May.
Briefing:-These payments were made to the business during the month of May. The amount of money owed will be $5,000 at the conclusion of the following month.
When is a company's revenue recorded while using accrual basis accounting?When a business generates income and related expenses, rather than when money exchanges hands, it is recorded using the accrual basis of accounting. The implication of this is that businesses report revenue when it is earned rather than when it is received.
To Know more about sales revenue
https://brainly.com/question/21290956
#SPJ1
the sarbanes-oxley act of 2002 is an example of regulation regarding what? compliance service-level agreements privacy documentation
The Sarbanes-Oxley Act of 2002 is an example of a regulation regarding compliance. It was passed by Congress in 2002 to protect investors from fraudulent financial activities by corporations. It requires companies to maintain accurate records, create a code of ethics for senior financial officers, and certify the accuracy of their financial reports.
The Sarbanes-Oxley Act (SOX) was passed by Congress in 2002 in response to several high-profile corporate scandals. It was named after sponsors Paul Sarbanes and Michael Oxley.
The Act's main goal was to re-establish public confidence in accounting and financial statements by changing corporate governance regulations.
Compliance is a term used to describe the degree to which a company follows the rules and regulations governing its business operations. Companies must follow all relevant laws, regulations, and standards when conducting their business, from labor laws to environmental regulations.
The Sarbanes-Oxley Act established criminal penalties for financial fraud, including fines and imprisonment. The Sarbanes-Oxley Act of 2002 is an example of regulation regarding compliance.
Learn more about SOX here:
https://brainly.com/question/30880381
#SPJ11
ivanhoe company manufactures and sells three products. Relevant per unit data concerning each product are given below.ProductA B CSelling price $9 $12 $15Variable costs and expenses $3 $10 $12Machine hours to produce 2 1 2Required:a. Compute the contribution margin per unit of limited resource (machine hours) for each product.b. Assuming 3,000 additional machine hours are available, which product should be manufactured?c. What is the total contribution margin if the hours are (1) divided equally among the products and (2) if they are allocated entirely to the product identified above.
Because that is the revenue that is regarded as the future cost, the cost that is offered to management for decision-making on the renewal of equipment should indeed be kept to a minimum.
What are decisions about replacing equipment?The choice to replace manufacturing machinery as it approaches the finale of its usefulness is one that must consider both cost and performance. The selection and purchase of the finest equipment for the imposed capital expenditure restrictions involves economic considerations.
How much would it cost to replace the equipment?Annual premium coverage only pays the depreciated value, whereas replacement cost coverage often pays the cost to make repairs its thing up to the value listed. The market value of an item, which depends on its age and usage.
To know more about revenue visit :
https://brainly.com/question/29567732
#SPJ1
During adolescence, (racial centrality/private regard) increases and (racial centrality/private regard) remains stable. racial centrality; private regard.
During adolescence, racial centrality increases and private regard remains stable.
What is adolescence? Adolescence is a developmental stage that occurs after childhood and before adulthood, typically between the ages of 10 and 19. It is a period of substantial physical, psychological, and social transformation. Adolescence is a period of transition, growth, and challenges, as well as an opportunity for development and creativity. Racial Centrality and Private Regard
During adolescence, racial centrality increases, and private regard remains stable. Adolescents' perception of their race or ethnicity is known as racial centrality, and it appears to play an essential role in their identity formation.
Private regard is an individual's emotional response to his or her race or ethnicity, as well as an assessment of his or her own worth as a member of that race or ethnicity. Private regard, unlike racial centrality, is stable throughout adolescence, indicating that adolescents' self-worth as members of a particular racial or ethnic group remains consistent throughout this critical developmental period, according to research by researchers at Stanford University's School of Education in California.
To learn more about “adolescence” refer to the https://brainly.com/question/1956818
#SPJ11
lohn corporation is expected to pay the following dividends over the next four years: $14, $10, $7, and $3. afterward, the company pledges to maintain a constant 5 percent growth rate in dividends forever. if the required return on the stock is 10 percent, what is the current share price?
The current price of the Lohn Corporation stock is $67.25.
Calculation of current price of stock:The required rate of return (k) is 10 percent.
Dividend of Lohn Corporation:
Year 1 dividend = $14
Year 2 dividend = $10
Year 3 dividend = $7
Year 4 dividend = $3
The current price of Lohn Corporation is the sum of the present value of future dividends and the present value of the terminal value. The current price of Lohn Corporation is calculated as follows:
[tex]P0 = D1/(1+k)^1 + D2/(1+k)^2 + D3/(1+k)^3 + D4/(1+k)^4 1/(K-g)\\P0 = $14/1.1^1 + $10/1.1^2 + $7/1.1^3 + $3/1.1^4 (1/0.1-0.05)\\P0=$12.73+$8.26+$5.26+$41\\P0= $67.25\\[/tex]
The current price of the Lohn Corporation stock is $67.25.
Learn more about current price of stock here:
https://brainly.com/app/ask?q=current+price+of+stock
#SPJ11
if the supply of a product increases and the demand for that product simultaneously increases, then equilibrium:
If the supply of a product increases and the demand for that product simultaneously increases, then equilibrium will shift to a higher quantity and the equilibrium price will be indeterminate.
About equilibrium priceThe reason behind this is that when the demand and supply of a product increase, the quantity sold will rise.
This is due to the fact that when the supply of a product increases, the cost of producing that product decreases, and as a result, the seller will be able to sell more of the product at a lower price. Similarly, when the demand for a product increases, the buyer is willing to pay more for the product, and as a result, the price will rise, which will encourage the seller to supply more of the product.
The combination of these two influences results in a larger quantity being sold, but the price will be indeterminate because the cost and the benefit have both increased. It is also conceivable that the equilibrium price will be unaffected.
Learn more about equilibrium price at
https://brainly.com/question/27696147
#SPJ11
When Chandra is hiking on a hot day without any water, she is willing to pay up to $6 for a bottle of water. When she does her grocery shopping, she is not willing to pay more than 53,60 for a case of 36 bottles of water. If Chandra buys a case of 36 bottles for $3,60, or 9.10 per bottle, her consumer surplus is on the first bottle and is________ on the 36th bottle
When Chandra buys a case of 36 bottles for $3.60, or 9.10 per bottle, her consumer surplus is on the first bottle and is zero on the 36th bottle.
Consumer surplus is the difference between the maximum amount that a consumer is willing to pay for a good and the amount that the consumer paid for it.
Consumer surplus can be used to determine how much customers gain from participating in a market in terms of surplus.
Consumer Surplus = Maximum Willingness to Pay - Actual Price
When Chandra is hiking on a hot day without any water, she is willing to pay up to $6 for a bottle of water.
When she does her grocery shopping, she is not willing to pay more than 53,60 for a case of 36 bottles of water.
If Chandra buys a case of 36 bottles for $3,60, or 9.10 per bottle, her consumer surplus:
For the first bottle, consumer surplus = $6 - $9.10 = -$3.10
For the 36th bottle, consumer surplus = $0 - $9.10 = -$9.10
Therefore, her consumer surplus is zero on the 36th bottle.
Learn more about the actual price here:
https://brainly.com/question/30434965
#SPJ11
Fiona, the manager of a retail store, wants to know whether she is maximizing her return on space investment. She will have to calculate the _____ for the area of the store. A. sales per employee B. sales per square foot C. QR correlation coefficient D. return on investment E. cost-benefit ratio
Sales per square foot is the correct answer for the blank.For the retail store owners, sales per square foot is one of the most critical financial measures. The correct option is A)
It is a straightforward metric that represents the store's revenue divided by the retail space's square footage. It is calculated by dividing the net sales by the total square footage of the retail area.A business that makes more significant sales per square foot is more efficient at generating profits from its retail space. That being said, it is a very efficient way to measure retail stores' efficiency since it takes into account every square foot of the store. Additionally, it is used to evaluate the success of new products, brands, or store redesigns, as well as whether a store should be closed or opened somewhere else.The sales per square foot metric helps owners and managers make better-informed decisions about their retail stores, assisting them in maximizing profits while also giving a better experience to the shoppers inside the store. Hence, Fiona, the manager of a retail store, will have to calculate the sales per square foot for the area of the store to check whether she is maximizing her return on space investment.
For more questions on Sales per square foot
https://brainly.com/question/1537532
#SPJ11
Complete the statement by choosing the correct options.In this situation, assume that the supply and demand curves are straight lines. The more_____(elastic/inelastic) the demand and the more_____(elastic/inelastic) the supply, the smaller the consumer surplus is relative to the producer surplus.
The more elastic the demand and the more inelastic the supply, the smaller the consumer surplus is relative to the producer surplus.
In a market where both the demand and supply curves are straight lines, the more elastic the demand curve, the greater the consumer surplus. This is because as the price increases, consumers will demand fewer units of the good, and those who are willing to pay a higher price will still be able to purchase it.
On the other hand, if the demand is inelastic, consumers will still purchase the same amount of the good, even as the price increases, resulting in a smaller consumer surplus.
Similarly, the more elastic the supply curve, the greater the producer surplus. This is because as the price increases, producers will supply more units of the good, and those who are willing to accept a lower price will still be able to sell it.
If the supply is inelastic, producers will not be able to increase production significantly, even if the price increases, resulting in a smaller producer surplus.
Therefore, in a situation where the demand is elastic and the supply is elastic, the producer surplus and consumer surplus will be relatively larger, resulting in a more efficient market.
Learn more about elasticity here:
https://brainly.com/question/30835304
#SPJ11
What do you think was the reasons of Ms. Sagrado in coming up with a pot as business?
You must speculate as to Ms. Sagrado's motivations for starting a marijuana-related business because she didn't anticipate the success of her venture and appears to be overjoyed about it in the paragraph.
Business, finance, marketing, sales, and human resources entry-level positions can be attained with a bachelor's degree in entrepreneurship. They also offer the entrepreneurial abilities required to launch a business.
Your best work, service to others, and Conditions that are helpful include interesting work that allows you to experience "flow," encouraging coworkers, the absence of significant drawbacks like unjust compensation, and a job that suits your own schedule.
Read more about pot business at
https://brainly.com/question/1107284
#SPJ4
In order for a good to be classified as ______________ , when one person uses the good, others are also able to use it.
A. nonrivalrous
B. unrivalrous
C. unexcludable
D. nonexcludable
In order for a good to be classified as nonrivalrous when one person uses the good, others are also able to use it. Option a)
Nonrivalrous goods are those that can be consumed or used by multiple people without diminishing the availability or quality of the good for others. Examples of nonrivalrous goods include public parks, national defense, and open-source software.
Option A is correct, as nonrivalrous is the term used to describe goods that are not diminished by use and can be shared among many people.
Option B is not a commonly used term to describe goods, and it is not synonymous with nonrivalrous.
Option C refers to the characteristic of a good that makes it difficult or impossible to prevent people from using it.
Option D is not the correct term to describe nonrivalrous goods, although it is related to option C as it refers to the difficulty of excluding people from using a good.
Learn more about nonrivalrous
https://brainly.com/question/29408105
#SPJ4
The purchase of bonds by the Federal Reserve Will have the greatest effect on real gross domestic product if which of the following situations exists in the economy?
The purchase of bonds by the Federal Reserve will have the greatest effect on real gross domestic product (GDP) if there exists a deflationary gap in the economy.
Deflationary gap refers to a situation where the economy's aggregate demand (AD) is less than the aggregate supply (AS), resulting in declining output levels and rising unemployment. In such a situation, the government can intervene and employ expansionary monetary policy measures to boost the economy's aggregate demand levels. One of the ways to do so is by purchasing government securities (bonds) from the financial markets. It is also known as quantitative easing (QE).The Federal Reserve is responsible for controlling the nation's monetary policy. They regulate the money supply and interest rates in the economy. By purchasing government securities, the Federal Reserve injects money into the economy, increasing the reserves of banks, and thereby boosting lending and spending activity. As a result, the economy's aggregate demand levels rise, leading to higher production and employment levels. This, in turn, causes real GDP to increase, thereby reducing the deflationary gap. The monetary policy of bond purchase helps to stimulate the economy during periods of recession, promote economic growth and employment creation, and increase inflation levels.The Federal Reserve uses this monetary policy as a tool to counteract negative shocks to the economy, such as recession, high unemployment rates, or decreasing prices. By increasing the money supply, the government is stimulating demand and encouraging economic activity. The purchase of bonds helps to create new jobs, stimulate spending, and ultimately lead to an increase in real GDP levels. Hence, it can be concluded that the Federal Reserve's purchase of bonds will have the most significant effect on real GDP if there exists a deflationary gap in the economy.
for more questions on Federal Reserve
https://brainly.com/question/382312
SPJ11
Complete question:
The purchase of bonds by the Federal Reserve will have the greatest effect on real gross domestic product if which of the following situations exists in the economy?
(A) The required reserve ratio is high, and the interest rate has a large effect on investment spending.
(B) The required reserve ratio is high, and the interest rate has a small effect on investment spending.
(C) The required reserve ratio is low, and the interest rate has a large effect on investment spending.
(D) The required reserve ratio is low, and the marginal propensity to consume is low.
(E) The marginal propensity to consume is high, and the interest rate has a small effect on investment spending.
What is included in an income statement under absorption costing?
Absorption costing is a method of cost accounting that is used to determine the cost of a manufactured product. It is also called full costing.
Absorption costing is a method that considers all of the manufacturing expenses when calculating the cost of a product. Direct materials, direct labor, and overhead costs are all included in this method.
The income statement of a firm using absorption costing lists all of the costs incurred in the production process. It includes direct material costs, direct labor costs, and overhead costs.
All expenses incurred in the production process are absorbed into the final product's cost. As a result, the final cost of the product is higher when compared to variable costing because it also includes the overhead cost.
However, the fixed manufacturing overhead cost is divided into units of production to arrive at the product's total cost per unit.
These costs are absorbed into the cost of the products and are considered expenses of the period in which the goods are sold.
Learn more about Absorption costing here:
https://brainly.com/question/26276034
#SPJ11
the technique where we designate locations in our signing space for multiple concepts (places, people, or objects) is called the technique.
The technique where we designate locations in our signing space for multiple concepts (places, people, or objects) is called the technique of mapping.
The technique of mapping in sign language is a visual approach that involves using space to communicate certain messages. This technique has been proven to be a powerful tool for deaf and hard of hearing individuals. It enables them to communicate more efficiently while using fewer words. This technique uses locations in signing space for multiple concepts such as people, objects, or places.
The technique of mapping works by enabling deaf and hard of hearing individuals to use their signing space effectively. This technique works by using spatial relationships to help communicate messages. For instance, a sign language user may use a particular location in their signing space to indicate their home, another location to indicate their work, and another to indicate a favorite restaurant. This technique allows a person to refer to these locations in the future without having to use words to describe them. By designating specific locations in signing space for different concepts, a sign language user can streamline their communication and make it more efficient.
For more about technique:
https://brainly.com/question/30078437
#SPJ11
sandy has $829.04 to convert into euros. how many more euros would sandy have if she made her trade on the day with the most favorable exchange rate than if she made her trade on the day with the least favorable exchange rate? round all currencies to two decimal places.
Sandy would have €55.96 more if she made her trade on the day with the most favorable exchange rate than if she made her trade on the day with the least favorable exchange rate.
To calculate this, you first need to convert Sandy's $829.04 into euros using the most and least favorable exchange rates. At the most favorable exchange rate, $829.04 is equal to €742.64. At the least favorable exchange rate, $829.04 is equal to €686.68.
Then, take the difference between these two values, which would be €742.64 - €686.68 = €55.96.
Therefore, Sandy would have €55.96 more if she made her trade on the day with the most favorable exchange rate than if she made her trade on the day with the least favorable exchange rate.
Learn more about exchange rates at https://brainly.com/question/10187894
#SPJ11
the elk corporation has provided the following information total sales were 2520000 beginning net accounts receivable was 94000 what was elk's receivable turnover ratio
Elk Corporation's accounts receivable turnover ratio for this period is 26.81. This indicates that on average, the company collected its outstanding accounts receivable balance 26.81 times during the period.
What is turnover ratio?Turnover ratio is a financial ratio that measures the efficiency of a company in managing its assets. It shows how many times a company has used or turned over its assets in generating revenue or sales.
The turnover ratio is calculated by dividing the total sales or revenue generated by a company during a specific period by the average value of the asset being analyzed. The resulting figure represents how many times the asset has been used or turned over during the period.
The turnover ratio can be calculated for different types of assets, such as accounts receivable, inventory, and fixed assets.
The formula for the accounts receivable turnover ratio is as continues to follow:
Accounts Receivable Turnover Ratio = Total Sales / Average Accounts Receivable
To find the average accounts receivable, we need to add the beginning and ending balances of accounts receivable and divide by 2:
(Beginning Net Accounts Receivable + Ending Net Accounts Receivable) / 2 = Average Accounts Receivable We don't have the ending net accounts receivable balance, so we can't calculate the average. Therefore, we can only calculate the receivable turnover ratio using the beginning net accounts receivable balance.
Accounts Receivable Turnover Ratio = Total Sales / Beginning Net Accounts Receivable
Accounts Receivable Turnover Ratio = 2520000 / 94000
Accounts Receivable Turnover Ratio = 26.81
To know more about assets, visit:
https://brainly.com/question/13848560
#SPJ1