Comparative advantage 1/5 unit of cell phones Sweden and Finland produce only two goods, herring and cell phones, and this table shows the maximum amount that each nation can produce of the two goods.
What, by way of illustration, is comparative advantage?Your greatest skill and least amount of sacrifice are your comparative advantages. If you are a terrific babysitter and a fantastic plumber, for instance, your competitive advantage is plumbing. If someone can create something for less money than anyone else, they have a comparative advantage.
Comparative advantage is different from superiority in a given field. In reality, a person can have a competitive advantage at something even if they are utterly untrained in it. The ability to generate more or superior services and products than competitors is referred to as having an absolute advantage. In order to produce goods and services at a reduced cost, but not always at a lower cost, one must have a comparative advantage.
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gdp includes: group of answer choices the negative attributes in our quest for more goods and services such as soil erosion and deforested landscape. all quality improvements resulting from higher quality goods replacing inferior goods. the cleaning-up expenses associated with pollution. the value of leisure time.
The cost of environmental cleanup is accounted for in GDP.
What is included in the GDP and what is excluded?The Gross Domestic Product (GDP) is made up of commodities and services generated for market consumption as well as some nonmarket production, including government-provided services in the areas of military or education. Gross national product, or GNP, is another term that refers to the total production of a nation's citizens.
Which four components make up GDP?Consumption, investment, government spending, exports, and imports are the components used in the expenditures approach to computing GDP.
What three things are a part of GDP?Personal consumption, corporate investment, government spending, and net exports are the four main components of the gross domestic product. 1 That reveals what a nation excels at generating. The nation's annual total economic production is measured by its GDP. It is comparable to the amount that is spent in that economy.
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the concept that states that the timing of the receipt or payment of a cash flow will affect its value to the holder of the cash flow.
The concept that indicates that the timing of the receipt or payment of a cash flow affects its value to the holder of the cash flow is known as "time value of money".
The Time Value of Money (TVM) states that the value of a unit of currency received today is greater than the same unit received in the future. This is due to the opportunity cost of not having the money available for investment or spending. TVM takes into account the rate of return that could be earned if the money were invested, as well as inflation and the impact on purchasing power over time.
Understanding the time value of money is important in finance and investment decisions, as it helps individuals and businesses determine the present value of future cash flows and make informed decisions about investments, loans, and other financial instruments.
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do you think the benefits of iot devices in the workplace outweighs the security risks? why or why not?
The benefits of IoT devices in the workplace outweigh the security risks depends on the specific application and the security measures that are in place.
IoT devices can offer many benefits, such as improved communication, centralized data access, and automation, but they also come with security risks such as data breaches, malicious attacks, and unauthorized access. To maintain a secure workplace, businesses must ensure that they have the necessary security measures in place, such as encryption, secure authentication, and monitoring.
If these measures are in place, the benefits of IoT devices can often outweigh the security risks. Additionally, businesses should conduct regular risk assessments to identify potential vulnerabilities and implement security controls to mitigate those risks. Ultimately, businesses should assess the risks and benefits of implementing IoT devices and make an informed decision about whether or not the benefits outweigh the security risks.
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which of the following is true of competitive advantage? group of answer choices it can be measured by using only tangible outcomes. it requires a company to consistently outperform its rivals in generating above-average profits. it is usually achieved by firms that provide general as well as imitable products. it should be avoided by not-for-profit organizations.
The truth of competitive advantage is: requires a company to consistently outperform its rivals in generating above-average profits.
What is true of competitive advantage?It is true that competitive advantage requires a company to consistently outperform its rivals in generating above-average profits. Competitive advantage refers to the factors or attributes that allow a company to produce goods or services better or more cheaply than its competitors, which results in higher profitability.
These advantages can be either tangible (such as unique technology or access to resources) or intangible (such as brand reputation or customer loyalty), and can change over time as competitors catch up or market conditions change.
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Which financial statement reports elements that describe changes in assets and liabilities?
suppose that the economy is in long-run macroeconomic equilibrium and aggregate demand increases. as the economy moves to short-run macroeconomic equilibrium, there is:
In the short-run this will lead to an amplify in the equilibrium of goods supplied and demanded. Since there is greater demanded, firms will produce greater and fees will increase.
In the long-run, fees enlarge even greater however the equilibrium degree of output will fall again to the ancient equilibrium degree of output.
What is the relationship of mixture demand and mixture provide to the concept of macroeconomic equilibrium?In economics, the macroeconomic equilibrium is a kingdom where mixture grant equals mixture demand.
The short run in macroeconomics is a period in which wages and some different fees are sticky. The lengthy run is a period in which full wage and price flexibility, and market adjustment, has been achieved, so that the financial system is at the herbal level of employment and practicable output.
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brainly.com/question/16419230#SPJ4if you were asked to develop a low-cost provider strategy for a start-up ride-sharing business, what would you most likely not recommend?
The option that most likely not recommended is Offer low prices on short-distance rides. In the other side, the eliminate peak pricing for rides during rush hour also not recommended.
In the term of business and economic, A marketing strategy generally can be defined as a long-term plan for achieving a company's goals. The marketing strategy can be achieve by understanding the needs of customers and creating a distinct and sustainable competitive advantage. Marketing strategy encompasses everything from determining who your customers are to deciding what channels you use to reach those customers.
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Which financial statement reports a firm's assets, liabilities, and equity at a particular point in time?
A. Balance Sheet
B. Income Statement
C. Statement of Retained Earnings
D. Statement of Cash Flows
When the federal government crafts environmental policies that make it less expensive for firms to follow greeninitiatives,?
A. the policies are futile because where the environment isconcerned, it has been repeatedly shown that firms do not respond to economic incentives.
B. the policies are likely to be more successful than policies that cost firms more, but they do not recognize economic incentives.
C. the policies are consistent with economic incentives.
D. pollution is likely to increase.
When environmental regulations are in line with financial incentives, the federal government creates laws that reduce the cost for businesses to adopt green practices.
When the government creates environmental regulations that reduce the cost of businesses adopting green practices?
Environmental laws created by the federal government that reduce the cost for businesses to adopt green initiatives are consistent with financial incentives. Two types of efficiency exist: When a thing or service is produced as cheaply as feasible, this is known as productive efficiency. The definition of a financial incentive is: a monetary reward supplied to promote behavior or actions that would not otherwise occur. Actions that might not take place without the financial reward are motivated by financial incentives.
When production reflects consumer preferences, allocation efficiency develops.
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which of the following is a similarity between frederick w. taylor and lillian gilbreth? question 6 options: they both used film cameras to analyze jobs. they both developed time study. they both proposed giving workers longer work hours and fewer breaks. they both strove to simplify work.
They both developed time to study. Option B
Who is Frederick W. Taylor?Generally, - Frederick Winslow Taylor was an American mechanical engineer who sought to improve industrial efficiency. He is regarded as the father of scientific management and was one of the first management consultants.
Taylor was one of the intellectual leaders of the Efficiency Movement and his ideas, broadly conceived, were highly influential in the Progressive Era.
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true or false ending retained earnings reported on the statement of retained earnings is calculated by adding stockholder investments and net losses and subtracting net income and dividends.
False. Ending retained earnings reported on the statement of the retained earnings is calculated by adding stockholder investments and the net losses and then subtracting net income and dividends.
A retained earnings statement is a financial statement that shows changes in a company's retained earnings over a period of time.
This statement uses information such as net income from other financial statements to reconcile the beginning and ending retained earnings for the period to help analysts understand how the company's earnings are being used.
A statement of retained earnings is an annual financial statement prepared by a company that shows changes in the amount of retained earnings over a period of time.
Retained earnings are earnings that a company retains to invest in future projects rather than being distributed as dividends to shareholders.
An analyst can look at the statement of retained earnings to understand how the company intends to use its profits for growth.
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financial markets fluctuate daily because they: group of answer choices offer tremendous arbitrage opportunities. slowly reacting to new information. are inefficient. only reflect historical information. are continually reacting to new information.
Financial markets fluctuate daily because they are inefficient. Information asymmetries, transaction costs, market psychology, and human emotion are just a few of the causes of market inefficiencies.
As a result, there may be opportunities for extra profits when certain assets are overvalued or undervalued in the market. Markets are effective because it is challenging to make money through active management, and prices often reflect the knowledge that is accessible. The market, however, is ultimately sufficiently inefficient to encourage some active management that seizes profit possibilities. Lack of or inadequate communication at work is one of the most pervasive factors contributing to inefficiencies.
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what type of staffing approach emphasizes the norms and practices of the parent company by relying on pcns at its subsidiaries of the mne?
By depending on PCNs at its MNE subsidiaries, an ethnocentric staffing model highlights the norms and practices of the parent firm.
What is ethnocentric staffing?
Ethnocentric hiring practices are common in businesses with a strong international strategic emphasis. Employers from the home or parent countries are typically sent to the host country to implement this policy by the corporate headquarters. This strategy works best in certain circumstances, such as when a team from the home country is deployed to assist with the setup of a new plant and to teach subordinate staff about a new system. As foreign managers need a broad viewpoint and exposure to other cultures, having staff members from the home country overseas has the advantage of allowing employees to develop experiences on a global scale.
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methods by which successful executives show their interest in learning what others are thinking include group of answer choices holding town hall meetings and consulting employees on what they would do if in charge. holding town hall meetings and consulting bankers on what they would do if in charge. holding retreats and consulting rivals on what they would do if in charge. consulting rivals and consulting investment bankers.
The correct choices are
Holding town hall meetings and consulting employees on what they would do if in charge.Holding retreats and consulting rivals on what they would do if in charge.Organizing town hall gatherings and asking staff members what they would do if they were in charge.
By using this technique, leaders may demonstrate their respect for their employees' ideas while also gaining insights and viewpoints from individuals who are directly involved in the day-to-day operations of the company.Organizing retreats and asking competitors what they would do if they were in charge.
With the use of this technique, executives may learn more about the industry's competitive environment and the strategies and tactics used by other businesses. It may also be a chance for networking and establishing connections with colleagues.For such more question on employees:
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what is the general term for resources used by a business to produce a good or service referred to as?
Factors of Production is the general term for resources used by a business to produce a good or service.
Land, labour, entrepreneurship, and capital are examples of the factors of production, which are the inputs needed to generate a good or service. The owners of the major production elements are typically the richest persons in a society. In capitalism, the production factors are typically influenced by business owners and investors.
In socialist systems, the state (or community) typically has more control over the inputs necessary for production. In economics, the inputs used to produce goods or services that make a profit are referred to as factors of production. Land can refer to farming and the use of natural resources as a part of production in agriculture.
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China and Germany specialize in the production of silk and automobiles respectively. They are considered the best at their specializations. Assume that China chooses not to trade silk with Germany in exchange for automobiles. Which perspective is China using in regards to not trading to another country which provides a specialization they do not have? absolute advantage comparative advantage new trade theory porter's model
China is using the concept of comparative advantage in regards to not trading with Germany.
Which viewpoint does China hold when it comes to refusing to trade with nations ?Comparative advantage refers to the idea that a country will specialize in the production of goods and services in which it has a lower opportunity cost relative to other goods and services. Since China is considered to be the best at producing silk, it has a lower opportunity cost in producing silk compared to producing automobiles. On the other hand, Germany has a lower opportunity cost in producing automobiles compared to producing silk.Therefore, China has a comparative advantage in producing silk, and Germany has a comparative advantage in producing automobiles. By specializing in the production of goods in which they have a comparative advantage, both countries can benefit from trade. Porter's model refers to a framework used to analyze the competitiveness of an industry or a company.To learn more about trade refer:
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ow can you, as a salesperson, best avoid disagreements with a customer about the amount of money the customer gave you as payment?
As a salesperson, the best way to avoid disagreements with a customer about the amount of money by placing the money on the cash drawer ledge.
Who is a salesperson?
Simply said, a sales representative promotes a company's brand while selling their goods or services. From the initial lead outreach until the actual purchase, they manage client connections and function as the primary point of contact.
Responsibilities:
1. To existing and potential customers, present, market, and sell products/services using strong arguments.
2. To address the demands of current and new customers, perform cost-benefit and needs analyses.
3. Create, nurture, and preserve effective client and company relationships.
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databases used by marketers may include information that is either _______ or _______.
Marketers may use databases that include either external or internal information.
Who are the marketers?The marketer is a professional who advertises the goods as well as services of a company. They identify the tactics that can increase revenue and profits while trying to make sure that these tactics are in line with both customer and market need.
What is the role of marketeer?A marketing manager is a marketing specialist who constructs multichannel communication strategy for organisations. Depending on the nature and needs of their employer, a salesperson may specialise in one or maybe more areas of work or work in a variety of them.
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A investment banking firm found that an analytical skills selection test it had been using to hire financial associates actually helped the firm to obtain more major clients and to increase the revenue and profitability of the firm. This is an example of selection test that possesses: reliability generalizability utility content validity legality
This is an example of selection test that possesses are Reliability, utility, content validity, and legality.
What is the Reliability?Reliability is the ability of a product, system, or service to consistently perform according to its specifications. It is the probability that an item will perform its intended function for a specified period of time under stated conditions. Reliability is an important factor in many aspects of life, from engineering and technology, to finance and health care. Reliability is measured in terms of how often something works correctly over a certain period of time. It can be assessed through testing, surveys, and other forms of analysis.
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which of the following is an example of a firm that is failing its fundamental social responsibility? multiple choice a firm that uses resources at unsustainable rates a firm that prioritizes environmental sustainability a firm that is financially unstable a firm that has its loss margins exceeding its profit margins
Option 1st is correct. A firm that uses resources at an unsustainable rate is an example of a company failing to meet its basic social responsibilities.
Do something for your community, like volunteering, donating blood, or working at a food bank or animal shelter. Support issues that affect society, such as advocating for political or social issues that can help others. For example, advocating for child labor laws, buying fair trade products, and recycling.
Her four main types of CSR are social responsibilities, ethical responsibility, philanthropic responsibility and financial responsibility.
Corporate social responsibility refers to the obligation to choose and carry out desirable behaviors in relation to the goals and values of our society.
According to Carroll Model, his four levels of corporate social responsibility are:
Physically, economically, socially and legally. physically, financially, legally and ethically. charitable, economic, legal, ethical.
There are four corporate social responsibilities: environmental responsibility, ethical responsibility, philanthropic responsibility and economic responsibility. However, companies can also consider various forms of CSR. Diversity, inclusion, well-being, employee engagement, etc.
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An entrepreneur is a person who opens and manages his or her own business.
T OR F?
based on the following information, what is earnings per share? common shares outstanding 80,000 preferred stock dividend declared and paid $ 32,000 net income $ 280,000
Earnings per share (EPS) is a financial metric that measures the amount of net income earned by a company for each outstanding share of common stock.
It can be calculated by dividing the net income by the number of outstanding common shares:
EPS = Net Income / Common Shares Outstanding
Using the information provided:
EPS = $280,000 / 80,000 = $3.50
Note that the preferred stock dividend paid of $32,000 is not considered in the calculation of EPS, as it is paid to preferred shareholders rather than common shareholders. EPS is a commonly used financial ratio that provides investors with an idea of the company's profitability and potential for future growth. It is used to compare the earnings of different companies and to help investors assess the potential return on their investment.
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What is the difference between quotas tariffs and embargoes?
Governments impose charges called tariffs on a certain category of imported goods. Quotas are import caps that ban a country from importing more of a certain good than a predetermined amount. An embargo is a restriction on trade with a certain country, a certain class of goods, or any single commodity.
What are some instances of tariffs, quotas, and embargoes?
To safeguard domestic industries and employees, trade barriers are frequently implemented. Protectionism is the term used to describe this. For instance, tariffs, quotas, and embargoes raise the price and decrease the availability of foreign goods.
What does an embargo look like?
Embargoes might include restrictions on export or import, quotas for quantity, special tolls and fees, restrictions on the use of certain vehicles for transporting goods, the freezing or seizure of goods, assets, or bank accounts, and restrictions on the movement of specific technology or goods (high-tech)
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select the account classification that matches with the description.items financial statements a. the change in retained earnings due to net income and dividends. b. amount of cash received from borrowing money from a local bank. c. revenue from sales to customers during the year. d. total amounts owed to workers at the end of the year.
The account classification under revenues includes sales of products or services, stockholders' equity includes owners claiming resources, and dividends include distributions to stockholders.
Assets, liabilities, stockholders' equity, dividends, income, and expenses are all types of accounts. The selling of goods or services generates income for the company. According to the accrual approach, revenue is only recorded until a business has fulfilled its duty to provide customers with goods or services by doing so. To determine the company's profitability or bottom line, expenses are subtracted from sale revenue. The account classification can be done as follows:
Revenues- Sales of products or services Stockholders quity- Owners claims to resources Dividends- Distributions to stockholdersExpenses- Costs of selling products or services.Assets- Resources of a companyLiabilities- Amounts owed.Indicate for each transaction whether the account would be categorized as a revenue or expense in the income statement, an asset, liability, or stockholders' equity in the balance sheet, or as a dividend in the statement of stockholders' equity.
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Correct question is:
Select the account classification that matches with the description.
Classifications: Assets, Dividends, Expenses, Liabilities, Revenues, and Stockholders' equity
Descriptions:
- Sales of products or services
- Owners claims to resources
- Distributions to stockholders
- Costs of selling products or services
- Resources of a company
- Amounts owed
yield management systems are used to . group of answer choices all of the choices are correct. create elastic demand for low-involvement products determine the availability of product substitutes in complex industries that are experiencing rapid change predict necessary service levels to achieve revenue goals profitably fill unused capacit
Yield administration is a dynamic motel pricing method designed to produce the maximum revenue, or yield, from a set inventory of rooms. It's about perception and influencing traveler booking behavior and discovering the top-quality balance between occupancy and rate
Where is yield administration used?Industries that use yield management consist of airlines, hotels, stadiums and different venues with a fixed range of seats, and advertising.
Yield administration systems are used to: determine whether or not it is financially more viable to purchase a new product or repair a broken one. determine the availability of product substitutes in industries that are experiencing rapid change. predict vital service degrees required to attain income goals.
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https://brainly.com/question/17003985#SPJ4Yield administration is a dynamic motel pricing method designed to produce the maximum revenue, or yield, from a set inventory of rooms. It's about perception and influencing traveler booking behavior and discovering the top-quality balance between occupancy and rate
Where is yield administration used?Industries that use yield management consist of airlines, hotels, stadiums and different venues with a fixed range of seats, and advertising.
Yield administration systems are used to: determine whether or not it is financially more viable to purchase a new product or repair a broken one. determine the availability of product substitutes in industries that are experiencing rapid change. predict vital service degrees required to attain income goals.
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brainly.com/question/17003985#SPJ4if the marginal benefit of an activity exceeds the marginal cost of the activity (mb > mc), we should multiple choice question.
If an activity's marginal benefit is greater than its marginal cost (mb > mc), the activity should be increased.
In managerial accounting, the idea of marginal cost is crucial because it may be used to maximize production through economies of scale within an organization.
By producing at the point where marginal cost (MC) equals marginal revenue, a business can optimize its earnings (MR).
Because fixed costs are fixed regardless of output levels, larger production spreads the total fixed cost over more units, resulting in a lower fixed cost per unit.
Production levels affect variable costs, so increasing the number of units will increase those costs.
Companies need to be aware of the situations where growing production leads in step costs due to changes in relevant ranges (such as buying more machinery).
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winwin corporation has five board members, and each shareholder gets one vote per share. the company uses a straight board voting procedure. how does this arrangement affect minority shareholders?
Under a straight board voting procedure, each board member has an equal vote regardless of the number of shares they own.
What is voting?Voting is the act of exercising one's right to have a say in the decision-making process of a government or organization. It is a fundamental part of a democratic society, allowing people to directly influence the laws, policies, and decisions that shape their lives.
This means that minority shareholders, who hold fewer shares, will have less influence over the decision making process of the organization. However, if the other shareholders are supportive of the minority shareholders' views, their influence can be maximized. Additionally, the minority shareholders may be able to influence the board by forming alliances with other shareholders who share their views.
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Which of these feature debt securities or instruments with maturities of one year or less? None of these are correct. Primary Markets Over the Counter Markets Money Markets Secondary Markets
The correct answer is option d. Money market is the feature of debt securities or instruments with maturities of one year or less.
The money market can be defined as the trading in very short-term debt investments. At the wholesale level, it usually involves large-volume trades that exist between institutions and traders. At the retail level, it includes all the money market mutual funds bought by individual investors and the money market accounts opened by normal bank customers.
The money market is one of the major pillars of the global financial system. It involves the overnight swaps of massive amounts of money between banks and the U.S. government. The majority of money market transactions are based on wholesale transactions that usually take place between financial institutions and companies.
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Complete question
Which of these feature debt securities or instruments with maturities of one year or less?
a. None of these are correct.
b. Primary Markets
c. Over the Counter Markets
d. Money Markets
e. Secondary Markets
the united states, which has a very capitalistic economy, has introduced social welfare programs such as social security. china, which is a communist country, has adopted many capitalist practices. one can conclude that: multiple choice question. all countries are moving toward capitalism, but they are not there yet pure communist or capitalist countries rarely exist today capitalism and communism are not as unrelated as they seem socialism is the only economic system that works
One can infer that pure communist or capitalist nations seldom exist today. Many individuals consider the American political-financial framework being democratic and capitalist. option (A) is correct.
A political-monetary and social framework and philosophy gave a three-sided construction of a market-driven economy that is predominately in light of a popularity-based nation known as an equitable private enterprise, likewise alluded to as a socialist majority rule government.
The USSR fills in as the paradigmatic outline of a halfway-arranged economy. In an ordered economy, rather than an unrestricted economy, where independent specialists pick the cost and portion of assets, products, and administrations, these choices are made by the public authority.
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This question is not complete , Here I am attaching the complete question:
The united states, which has a very capitalistic economy, has introduced social welfare programs such as social security. china, which is a communist country, has adopted many capitalist practices. one can conclude that: multiple choice question.
(A) all countries are moving toward capitalism, but they are not there yet
(B)pure communist or capitalist countries rarely exist today
(C) capitalism and communism are not as unrelated as they seem
(D) socialism is the only economic system that works
consumer surplus for an individual buyer is equal to: a) the consumer's willingness to pay for the good minus the marginal cost of producing the good. . b) the price of the good minus the marginal cost of producing the good. c) the consumer's willingness to pay for the good minus the price of the good. d) the marginal cost of the good minus the consumer's willingness to pay for the good
Consumer surplus for a single buyer is determined by c) the consumer's willingness to pay for the good minus the price of the good.
When consumers pay less than they are willing to pay for a good or service, this is known as a consumer surplus.
It's a gauge of the extra gain that customers experience as a result of paying less than they would have otherwise.
A customer's excess advantage is quantified economically as consumer surplus, sometimes referred to as buyer's surplus.
It is determined by calculating the equilibrium price, which is the gap between what consumers are willing to pay and what they actually pay for a commodity.
Buyers' willingness to pay for an item less the consumer surplus represents the market.
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