Reference no: EM13834162
1) Suppose that Michelle buys a cappuccino from Paul\'s Cafe and Bakery for $6.25. Michelle was willing to pay up to $8.75 for the cappuccino and Paul\'s Cafe and Bakery was willing to accept $2.25 for the cappuccino. Based on this information, answer the questions below.
a) Michelle\'s consumer surplus is equal to?
b) Paul\'s Bakery\'s producer surplus is equal to?
2) Producer surplus is the difference between?
a) the maximum price a buyer is willing to pay and the market pric
b) the market price and the minimum price a buyer is willing to pay.
c) the maximum price a seller is willing to accept and the market price.
d) the market price and the minimum price a seller is willing to accept.
3) Producer surplus is shown graphically as the area:
a) under the demand curve and above the market price.
b) under the demand curve and below the market price.
c) above the supply curve and below the market price.
d) above the supply curve and above the market price
|
Describe contemporary organisational structures
: Describe contemporary organisational structures. Explain contemporary people management practices. Outline marketing practices. Explain financial practices.
|
|
Economic circular flow and physical-monetary transactions
: Please describe the actions of the economic actors in the economic circular flow diagram and the physical and monetary transactions that occur in each market of circular flow diagram. What is the circular flow diagram describing?
|
|
What is the probability that he we pass the examination
: What is the probability that he we pass the examination
|
|
Critically evaluate the situation of a contemporary refugee
: Provide a socio-cultural and political background to the conflict and to the refugee population under review and Outline and discuss the possible psychosocial and mental effects on the refugee communities.
|
|
Producer surplus is shown graphically as the area
: Suppose that Michelle buys a cappuccino from Paul\'s Cafe and Bakery for $6.25. Michelle was willing to pay up to $8.75 for the cappuccino and Paul\'s Cafe and Bakery was willing to accept $2.25 for the cappuccino. Producer surplus is the difference ..
|
|
Proportion of vehicles
: 1. Assume the speed of vehicles along a stretch of I-10 has an approximately normal distribution with a mean of 71 mph and a standard deviation of 8 mph.
|
|
Dollars-chinese yuan exchange rate is fixed
: Suppose that the U.S. dollars-Chinese yuan exchange rate is fixed by the U.S. and Chinese governments. Assume also that labor is immobile between the United States and China due to high transportation costs.
|
|
What would be the quantity traded
: Suppose demand is still described by P=5.10-0.80Q and supply is described by P=1.90-0.20Q. If there is a price floor of 2.94, what would be the quantity traded?
|
|
Any combinations or conspiracies in restraint of trade
: Should sports leagues be allowed to remain as cartels? More than 100 years ago, the American legislative leaders decided that it was necessary to pass laws prohibiting "...any combinations or conspiracies in restraint of trade." However, the professi..
|