Suppose that in the community of Pavement Narrows, the demand for electricity in a typical household is given by the function. P-400-0.1 Q Where Q is the units of electricity consumed. Suppose that there are currently 10,000 households in Pavement Narrows. The government has fixed the price of electricity at $10 per unit. However, the current capacity to produce electricity for this community is 3600 units. To eliminate the shortage, the government has suggested building a small dam on the Dinsdale River which runs by Pavement Narrows. The dam would cost $180,000 to build. A local policy analyst, Anne Elke, has stated, "The government would be better off not to build the dam and instead raise the price of electricity to $40 per unit. Using the concept of consumer surplus, show whether Anne Elke is correct or not.
Answers
Anne Elke is not correct. Building the dam and maintaining the price at $10 per unit would result in a higher consumer surplus compared to raising the price to $40 per unit.
How to find if Anne Elke is correctConsumer surplus represents the difference between what consumers are willing to pay for a good or service and what they actually pay.
Calculating the consumer surplus under the current situation:
Consumer Surplus at $10 per unit:
Consumer surplus = 0.5 * (Q1-Q2) * (P2-P1)
Substituting the values:
Consumer surplus = 0.5 * (3600 - 10,000) * ($10 - ($400 - 0.1Q))
Consumer surplus = 3,200 * ($390 - 0.1Q)
Consumer surplus = 3,200 * $390 - 3,200 * 0.1Q
Consumer surplus = $1,248,000 - 320Q
Calculating the consumer surplus under the proposed situation of $40 per unit:
Consumer Surplus at $40 per unit:
Consumer surplus = 0.5 * (Q1-Q2) * (P2-P1)
Substituting the values:
Consumer surplus = 0.5 * (3600 - 10,000) * ($40 - ($400 - 0.1Q))
Consumer surplus = 3,200 * ($360 - 0.1Q)
Consumer surplus = 3,200 * $360 - 3,200 * 0.1Q
Consumer surplus = $1,152,000 - 320Q
Comparing the consumer surplus under the current situation ($1,248,000 - 320Q) with the consumer surplus under the proposed situation ($1,152,000 - 320Q), we can see that the consumer surplus is higher under the current situation.
Therefore, Anne Elke is not correct. Building the dam and maintaining the price at $10 per unit would result in a higher consumer surplus compared to raising the price to $40 per unit.
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Related Questions
Hey everyone, I just thought you all should know that...
you are AMAZING
you are BEAUTIFUL
you are SMART
you are KIND
you are NOT going to give up on your FIGHT
and you better stay ALIVE!!! <33
Answers
Answer:
thanks lol
you too-
If the distribution of water is a natural monopoly, then (i) multiple firms would likely each have to pay large fixed costs to develop their own network of pipes. (ii) allowing for competition among different firms in the water-distribution industry is efficient. (iii) a single firm can serve the market at the lowest possible average total cost. Group of answer choices
Answers
Answer:
The question is incomplete, the options are missing. The options are the following:
A) (i) and (iii) only.
B) (ii) and (iii) only.
C) (i) and (ii) only.
D) (iii) only.
And the correct answer is the option D: (iii) only.
Explanation:
To begin with, the concept known as "Natural Monopoly" is understood to be the structure of market in where the organization that is considered to be a natural monopoly is the only seller in the market it is because the company has huge economies of scale and due to that reason it will naturally gain the whole market and the other companies will not be able to compete and will exit the market. So therefore that when there is a natural monopoly a single firm can serve the market at the lowest possible average total cost.
In for peny, in for a pound , taking care of the rands and cents
Answers
Answer:
l don't understand the question you ask
write the
5 imp of professsion
Answers
2. Positive attitude
3. Conflict resolution
4. Helpfulness
5. Integrity
there’s more!!
SUBJECT: Legal Environment of Business USA
. What is the benefit of having individual State court systems for each State? Why not have uniformity within all States? Advocate for the continued recognition and use of state court systems.
. The Federal Court system is complex. Having read about those courts address the following:
a. Diversity of citizenship: Give one example of what this means in reference to federal court jurisdiction
b. State two types of cases Federal courts ONLY (not state) have jurisdiction of with the exception of the diversity of citizenship cases.
Answers
Benefits of State Court Systems:
Individual state court systems offer tailored and efficient administration of justice, considering each state's unique needs. They ensure fair rulings based on local laws and customs, promoting accessibility for resolving disputes. State court systems reflect democratic governance, established and regulated by each state's residents.
a. Diversity of Citizenship in Federal Court Jurisdiction:
Diversity of citizenship in federal court jurisdiction requires parties from different states and a specified threshold in dispute. It provides a neutral forum, free from local biases, for fair resolutions. It allows parties to bring lawsuits in federal court when they are from different states and significant matters are involved.
b. Exclusive Federal Court Jurisdiction (excluding diversity of citizenship):
Federal courts have exclusive jurisdiction over cases involving federal questions, arising under the U.S. Constitution, federal laws, or treaties. They also handle admiralty and maritime law cases, ensuring uniformity in interpreting and applying federal law nationwide.
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Define the word profit in buisness
Answers
Explanation:
Profit describes the financial benefit realized when revenue generated from a business activity exceeds the expenses, costs, and taxes involved in sustaining the activity in question. Profit is calculated as total revenue less total expenses.
Answer:
Money left after costs are paid .
Explanation:
Communication includes an activity where the receiver restates what the sender has said to clarify the message and to give the sender a chance to offer clarity if needed. What is this communication component called
Answers
The described communication component involves the receiver restating what the sender has said to clarify the message and provide an opportunity for the sender to offer clarity if necessary.
The communication component described is known as "paraphrasing" or "restating."
Paraphrasing refers to the act of restating or rephrasing the message or information conveyed by the sender. It involves the receiver using their own words to express the content of the message, ensuring that they have understood it correctly. By restating the message, the receiver can clarify any potential misunderstandings and give the sender an opportunity to provide further clarification if needed.
Paraphrasing is an essential communication skill that promotes effective understanding and active listening. It helps both parties in the communication process ensure that the intended message has been accurately received and interpreted. By restating the message in their own words, the receiver can confirm their understanding and seek clarification if any confusion or ambiguity arises.
In summary, the communication component described is called "paraphrasing" or "restating," where the receiver rephrases the sender's message to clarify understanding and allow for further clarification if necessary.
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a price reduction offered to channel members for featuring the manufacturer's product in their advertising or selling activities is called a(n) allowance.
Answers
The statement is partially correct. A price reduction offered to channel members for featuring the manufacturer's product in their advertising or selling activities is indeed a type of allowance.
In marketing and sales, an allowance refers to a financial incentive or discount given by a manufacturer to channel members such as retailers or distributors. This allowance is provided as a form of compensation for various activities that promote the manufacturer's product. One such allowance is the "advertising allowance," where a price reduction is offered to channel members for featuring the manufacturer's product in their advertising efforts. By providing this allowance, the manufacturer encourages channel members to actively promote and advertise their products, which can increase sales and brand visibility.
It's worth noting that there are other types of allowances as well, such as slotting allowances (paid to retailers for stocking a new product), trade-in allowances (discounts given for trading in an old product), and cooperative advertising allowances (shared costs for joint advertising campaigns). These allowances are designed to incentivize and support channel members in their efforts to market and sell the manufacturer's products.
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consumer backlash against price discrimination often focuses on the issue of consumers' needs versus their wants. fairness. honesty. profit.
Answers
Consumer backlash against price discrimination often focuses on the issue of fairness. Perceived fairness is based on the presumption that both suppliers and consumers are entitled to a reference profit and that, ceteris paribus, price increases that are commensurate with cost increases would be considered reasonable.
Who is a consumer?
Consumers are individuals or groups who do not actively engage in entrepreneurial or commercial operations but who plan to order or use acquired goods, services, or products primarily for personal, social, family, or household requirements. A person who buys products and services for personal consumption is most frequently referred to by the word.
President John F. Kennedy offered his definition of consumers to the US Congress on March 15, 1962, saying, "Consumers, by definition, encompass us all." World Consumer Rights Day, which is currently observed on March 15, was inspired by this lecture, which served as its foundation. In his address, John Fitzgerald Kennedy underlined the government's essential duty to consumers to support the exercise of their rights, including:
To be shielded from the promotion of products that are harmful to one's health or life.The right to information: To be shielded against false, dishonest, or flagrantly deceptive information, advertising, labelling, or other activities and to be provided the knowledge he needs to make an educated decision.The freedom of choice: To have access to a range of goods and services, wherever practicable, at reasonable rates. In areas where competition is impractical and government control is used as a replacement, one should have the guarantee of receiving excellent goods and services at reasonable costs.The ability to seek redress: Consumers have the ability to complain about unfair business practises and exploitation. Depending on the severity of the damage, a customer has the right to reimbursement if any harm is done to him.As a result, the Act has given us consumers the ability to represent ourselves in consumer courts.To learn more about a consumer from the given link
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consumer backlash against price discrimination often focuses on the issue of consumers' needs versus their wants. fairness. honesty. profit.
you have been instructed to destroy several old hard drives that contained confidential information, so you take them to a local company that specializes in this process. the it director wants confirmation that the drives were properly destroyed. what do you need to provide him with?
Answers
you need to provide him with a certificate of destruction.
In 1982, the German thrash metal group Destruction was founded. They are frequently referred to as one of the "Big Four" bands of German thrash metal, together with Kreator, Sodom, and Tankard. Destruction was a part of the second wave of thrash metal in the mid- to late 1980s, alongside American bands like Testament, Sacred Reich, Death Angel, and Dark Angel, and contributed to the creation of black metal by containing various aspects that would later make up the genre. The band had to self-produce its albums for the most of the 1990s because it was not signed to a record label, and they did so until they entered into an agreement with Nuclear Blast in the early 2000s.
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you found quantities of your product that would maximize different aspects of your that they are indeed local maxima using the second derivative test
Answers
The local maxima points represent quantities that maximize different aspects of your products.
The Second Derivative Test is a method used in calculus to determine if a point on a function is a local maximum or minimum. To use this test, you'll need to consider the following steps:
1. Find the first derivative (f'(x)) of your product function to identify critical points where f'(x) = 0 or is undefined.
2. Find the second derivative (f''(x)) of your product function.
3. Substitute the critical points found in step 1 into f''(x).
4. If f''(x) is positive at a critical point, it indicates a local minimum; if f''(x) is negative, it indicates a local maximum.
By following these steps and finding a negative second derivative at your critical points, you can confirm that these points are local maxima, which represent quantities that maximize different aspects of your product.
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A(n) _____ identifies how you feel about an activity or subject.
Answers
Answer:
Survey
it questions and identifies how you feel about an activity or subject.
Answer: interest theory
took it on edg.
r.a. fisher, a famous statistician, describes a well-known design in his book, design of experiments. five varieties of wheat were compared to determine which gave the highest yield in bushels per acre. eight farms were available for planting. each farm was divided into five plots. for each farm, the five varieties were randomly assigned to the five plots with one variety per plot. the varieties were planted on their assigned plots and their yields were measured and compared.
Answers
The design described by R.A. Fisher is a randomized complete block design. This design is used to compare multiple treatments or factors and control for any potential confounding variables by using blocks.
Each block (farm) has the same set of treatments (varieties of wheat) assigned to it in random order, which helps to account for differences in the environment between blocks. The objective is to determine the highest yielding variety of wheat based on the measured yields.
R.A. Fisher's book "Design of Experiments" describes a classical experimental design used in agriculture. The experiment was to compare the yields of five different varieties of wheat.
To control for extraneous factors, each of the eight available farms was divided into five plots and each of the five wheat varieties was randomly assigned to one plot on each farm. The yields of each variety were then measured and compared to determine which variety had the highest yield in bushels per acre.
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Which country does not claim ownership of the invention of churros?.
Answers
Answer:
Mexico
Explanation:
The history of the churro is the subject of much debate. Three countries claim ownership of the snack: Spain, China, and Portugal.
firms using a focused approach to corporate entrepreneurship do not separate corporate venturing activities from ongoing operations of the firm. True or False
Answers
False, firms using a focused approach to corporate entrepreneurship do separate corporate venturing activities from ongoing operations of the firm.
The phrase "corporate entrepreneurship" (CE) refers to entrepreneurial action inside well-established large and mid-sized enterprises. Corporate venturing, organizational entrepreneurship, intrapreneurship, and strategic entrepreneurship are additional concepts that are frequently used or related. Regardless of why a company chooses to participate in CE, it has developed into a key strategy for all kinds of enterprises. Since the middle of the 1970s, the theoretical and empirical knowledge in the field of CE has grown, and the research focus has enhanced the entrepreneurial behavior upon which it is built. As a result, a large number of the components needed to build a theoretically sound understanding of CE may be quickly found in the literature that has been published since the 1970s.
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Who watches Riverdale ? if you do can we be friends(pLEASE DON'T DELETE) and also who is your fav character from Riverdale
Answers
Answer:veronica
Explanation:
sure
Answer:
yes i love riverdale my fav character is cheryl or betty
Explanation:
Sally will receive $40,000 in 20 years. What is this worth today? Assume 5% interest.
Answers
We can assume today's worth using the formula FV=PV (1+r)^t.
Compound interest takes place while interest gets added to the principal amount invested or borrowed, after which the interest rate applies to the new (large) principal. It is basically interest on interest, which over the years results in exponential growth.
Where FV=future value, PV= present value, r=rate, t=time ,thus $40,000=PV(1+0.05)^20; $40,000= 2.6532PV ; PV= 15,706.
The money that's given to us is the future cost of the money which Sally will invest nowadays. If we will count on the interest rate given as the annual interest price we will use the formula of compound interest to discover the prevailing cost of the money in an effort to also be the contemporary really worth of the money.
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Jeb is trying to market a new type of chewing gum. His new gum, popsalot, is a low involvement purchase. Which type of channel coverage should he employ?.
Answers
Jeb should employ an intensive type of channel coverage.
The distribution coverage figures in figure 24 represent the proportion of stores that carry a given brand. The record offers the statistics for each emblem presently available on the market. The number of shops in every distribution channel is furnished as nicely.
The market insurance method is the technique of analyzing the market and locating how a good deal of the full marketplace your advertising and marketing marketing campaign ought to cover for a specific product/carrier.
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What is a market economy?what are some disadvantages of living in a market economy? Explain
Answers
Answer:
A market economy is an economic system in which the decisions regarding investment, production and distribution are guided by the price signals created by the forces of supply and demand.
Disadvantages:
A tendency for an inequitable distribution of wealth, poorer work conditions, and environmental degradation.Since profit maximization is the biggest motivation for firms, they may try to reduce their costs unethically. Unemployment and Inequality.
What are the opportunities of an entrepreneur
Answers
Opportunities of an entrepreneur:
• involves the sale or lease of any product, service, equipment that will enable the purchaser-licensee to begin a business.
• invest in (multiple) businesses
•quality content
• foreign markets
•crowdfunding
Suppose Ross wants to reexamine his decision of buying the bracket and is considering making the brackets in-house. He has determined that setup costs would be $25 in machinist time and lost production time, and 50 brackets could be produced in a day once the machine has been set up. Ross estimates that the cost (including labor time and materials) of producing one bracket would be $14,80. The holding cost would be 10% of this cost. Required: a) What is the daily demand rate? b) What is the optimal production quantity? Round up to nearest whole number. c) Given the optimal production run size in part b, what is the total annual inventory cost (including purchase cost, holding, and setup costs)?
Answers
The daily demand rate is 100 brackets. This is calculated by dividing the annual demand of 10,000 brackets by the number of days in a year, which is 365.
The optimal production quantity is 60 brackets. This is calculated using the economic order quantity (EOQ) formula, which is:
Code snippet
EOQ = sqrt(2DS/H)
Use code with caution. Learn more
where:
D = daily demand rate = 100 brackets
S = setup costs = $25
H = holding costs = 10% * $14.80 = $1.48
The total annual inventory cost is $1,735. This is calculated by adding the annual purchase cost, holding cost, and setup cost. The annual purchase cost is $1,480. This is calculated by multiplying the annual demand of 10,000 brackets by the cost per bracket of $14.80. The annual holding cost is $295. This is calculated by multiplying the optimal production quantity of 60 brackets by the holding cost per bracket of $1.48 and the number of days in a year, 365. The annual setup cost is $912.50. This is calculated by multiplying the number of setups per year, 10,000 / 60 = 166.67, by the setup cost of $25. The total annual inventory cost is $1,735. This is calculated by adding the annual purchase cost of $1,480, the annual holding cost of $295, and the annual setup cost of $912.50.
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_____________are expenses incurred when a customer stops buying a product or service from one business and starts buying it from another.
Answers
Answer:
Switching cost
Explanation:
Switching costs are the costs when the consumer paid for switching the brands or products. It can be in terms of effort based, time based, etc
It can employ the high switching cost in order to protect the customers from shifting to the another brand
Therefore the switching cost should be considered
One thing to consider when you’re setting your goals is to focus on your _____________, not on the outcome.
A.
strength
B.
surroundings
C.
thoughts
D.
performance
Answers
performance.
Explanation:It is favorable to learn how well you can and are doing before planning ahead and concentrating on the outcome.
Who at Universal Studios hates FORBIDEN JURNY?
Answers
MEEEEEEEEEEEEEEEEEE
°ω°
Depreciation of a copy machine in the Human Resource Department would best be classified as what type of cost?
a) Variable Cost
b) Fixed cost
c) Mixed cost
d) Step cost
Answers
The Human Resource Department's copier machine depreciation would most likely be classified as a fixed cost. Copy machines depreciate as a result of use and are used on a daily basis. Depreciation is one of the most well-known and most frequent costs incurred by businesses. The amount of wear and tear experienced by a machine or asset, such as a copy machine, over time is referred to as depreciation. As a result, this would be classified as a fixed cost as it is directly related to the copy machine's acquisition price and is not influenced by its usage level.
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nternet can contain viruses. Unless you need to edit it's safer to stay in Protected View. Enable Editing Case 6.2: The Complaint Letter 1. Briefly summarize the complaints and compliments in Dr. Loflin's letter. 2. Critique the letter of Gail Pearson in reply to Dr. Loflin. What are the strengths and weaknesses of the letter? 3. Prepare an "improved" response letter from Gail Pearson. 4. What further action should Gail Pearson take in view of this incident?
Answers
Gail Pearson's response letter to Dr. Loflin was criticized for lacking follow-up on correcting the errors. An improved response letter should emphasize the promised actions to correct the errors.
1. In Dr. Loflin's letter, she compliments Gail Pearson for her effective and efficient manner in handling their project, but complains about the report that was submitted to her as the report was filled with grammatical errors and inaccuracies.
2. Gail Pearson's response letter showed strength in its apologies and sincere acknowledgments of the errors made, as well as the promise to remedy the mistakes in future reports. However, it also showed a lack of follow-up regarding how the report would be corrected, and it included the note about Dr. Loflin's writing that was not necessary to the matter.
3. The improved response letter from Gail Pearson should emphasize the promised actions to correct the errors in the report, along with the details of how the corrections would be made. This letter should apologize to Dr. Loflin again for the inconvenience that was caused and should show empathy towards her, expressing an understanding of her frustration.
4. In view of this incident, Gail Pearson should take further action to ensure that the report is completely corrected and free of errors, and to ensure that a similar situation will not happen again. Gail should provide a plan or a detailed procedure on how they will review and correct the work, and they should include the steps that will be taken to avoid a similar mistake.
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roberto invested some money at 7%, and then invested $5000 more than twice this amount at 11%. his total annual income from the two investments was $3450. how much was invested at 11%?
Answers
Roberto invested some money at a 7% interest rate and then invested $5000 more than twice this amount at an 11% interest rate.
His total annual income from the two investments was $3450.at 11%.Let's break dow We need to find out how much he invested n the problem step by step: Let's say Roberto invested x dollars at a 7% interest rate. Therefore, the income from this investment would be 0.07x dollars.
According to the problem, he invested $5000 more than twice the amount he invested at 7% in an 11% interest rate investment. This means he invested (2x + $5000) dollars at 11%. The income from this investment would be 0.11(2x + $5000) dollars. The total annual income from both investments is given as $3450. Therefore, we can write the equation:
0.07x + 0.11(2x + $5000) = $3450. To solve this equation, we need to simplify and solve for x. 0.07x + 0.22x + $550 = $3450
0.29x + $550 = $3450
0.29x = $3450 - $550
0.29x = $2900
x = $2900 / 0.29
x ≈ $10,000
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Josiah has $750 to put in a savings account at a rate of 3 percent. Using the Rule of 72, calculate the number of years it will take for his $750 to double in value.
Answers
Answer:
24 years
Explanation:
Using the Rule of 72, it will take approximately 24 years for Josiah's $750 to double in value at a 3 percent annual interest rate.
External analysis and internal analysis combined constitute what has come to be called?
Answers
External analysis and internal analysis combined constitute what has come to be called the SWOT analysis.
What is SWOT analysis?
Using a SWOT analysis, a person or organization can determine their strengths, weaknesses, opportunities, and threats in relation to project planning or competitive business environments. Situational analysis or situational evaluation are other names for it. The four pillars of a SWOT analysis are strengths, weaknesses, opportunities, and threats for your business. A SWOT analysis' main goal is to assist enterprises in fully understanding all the variables that go into choosing a course of action. Utilize your opportunities and strengths to advance. Use your strengths to confront threats and repel them. So that you may take advantage of chances, and strengthen your deficiencies. Because the threats are tailored to your weaknesses, withdraw (in Dutch).
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Which TCF checking account fee is the most expensive?
Answers
Answer:
Explanation: it’s o stop payment fee