If 50 customers are all willing to pay $30 for an album that sells for $25, how much total value is created for the customers?
Maximum price consumers are willing to pay is 30 and price actually paid is 25
Value to consumers = (30-25)50= 250
If 50 customers are all willing to pay $30 for an album that sells for $25,...
Assume a firm sells an album for $25 per copy. The firm must pay $5 in royalties and $9 in production costs for each album. If 50 copies are sold, how much profit (value capture) was the firm able to make?
Bethany is looking for a laptop computer. She is willing to pay $590 for it. Suppose this is the highest price that any potential buyer of such a computer is willing to pay. At the same time, Andrew is willing to sell his laptop, which has all the features that Bethany wants, for $390. Suppose this is the lowest price that any potential seller of such a computer is willing to accept. Bethany and Andrew never meet. Bethany never finds...
Deltra was willing to purchase a dozen cookies for $30 that Deirdre was willing to sell for anything more than $17. If they agreed on a price of $21, how much total value was created in this exchange?
Adam is willing to pay $100 for his 1st pack of toilet paper, $25 for his 2nd, and $10 for his 3rd. Bella is willing to pay $80 for her 1st pack of toilet paper, $70 for her 2nd, and $15 for her 3rd. Chas is willing to pay $30 each for as many packs of toilet paper as he can get. The store currently only has 3 packs left, and only these 3 customers will be at the store...
Prenatal massage business For what value are our customers really willing to pay? For what do they currently pay? How are they currently paying? How would they prefer to pay? How much does each Revenue Stream contribute to overall revenues?
Question 35 options: Suppose you are willing to pay $100 for a used textbook. You buy it for $60 from a seller who would be willing to sell it for as low as $30. How much value is created as a result of this exchange? $
The value of outputs is measured by the prices customers are willing to pay for goods or services. T or F.
Katie is willing to pay $3 for a pound of apples. She buys 2 pounds of apples for $2 per pound. The lowest price the seller would accept is $1.50 per pound. How much value is created as a result of this trade?
Gail is willing to pay $89 for a new pair of shoes and Karen is willing to pY $60. What is the gain in total consumer surplus if the price of the shoes falls from $70 to $50? A. $10 B. $19 C. $29 D. $30
5.11. It is known that 30% of all customers of a major credit card pay their bills in full before any interest charges are incurred. Suppose a simple random sample of 150 credit card holders is selected. (Note that n p-150 (0.3)-45 > 5, and n(1-p) 150(0.7)-105 > 5, so the normal approximation to the binomial is quite valid.) What is the probability that 30 or fewer customers pay their account balances in full before any interest charges are incurred?...