An increase in consumer surplus is caused by a price floor. a price ceiling. a move...
An increase in consumer surplus is caused by
| a price floor. |
| a price ceiling. |
|
a move to equilibrium. |
When describing consumer surplus, you would say it is the extra benefit consumers receive when they ________.
| pay less than they would have been willing to pay |
| pay exactly what they would have been willing to pay |
|
pay more than they would have been willing to pay |
Advances in tax software such as TurboTax influenced the income tax preparer market in the following way:
| The demand for income tax preparers (the person who calculates and prepares your income tax return) fell and as a result, there are fewer tax preparer jobs. |
| The demand for income tax preparers (the person who calculates and prepares your income tax return) fell and as a result, the wages for tax preparer has increased |
|
The supply for income tax preparers (the person who calculates and prepares your income tax return) fell and as a result, there are fewer tax preparer jobs. |
If the government increases the minimum wage, the social surplus would
| stay the same. |
| increase. |
| decrease. |
Homework Answers
Solution 1
The correct answer is (a) that is price floor
Solution 2
The correct answer is (a) that is pay less than they would have been willing to pay
Solution 4
The correct answer is (C) that is decrease
Add Answer to:
An increase in consumer surplus is caused by
a price floor.
a price ceiling.
a move...
Advances in tax software such as TurboTax influenced the income tax preparer market in the following...
Advances in tax software such as TurboTax influenced the income tax preparer market in the following way: O The demand for income tax preparers (the person who calculates and prepares your income tax return) fell and as a result, there are fewer tax preparer jobs. O The supply for income tax preparers (the person who calculates and prepares your income tax return) fell and as a result, there are fewer tax preparer jobs. O The demand for income tax preparers...
Advances in tax software such as TurboTax influenced the income tax preparer market in the following...
Advances in tax software such as TurboTax influenced the income tax preparer market in the following way: The demand for income tax preparers (the person who calculates and prepares your income tax return) fell and as a result, the wages for tax preparer has increased The demand for income tax preparers (the person who calculates and prepares your income tax return) fell and as a result, there are fewer tax preparer jobs. The supply for income tax preparers (the person...
2. Individual demand and consumer surplus Consider the market for yachts. The market price of each...
2. Individual demand and consumer surplus Consider the market for yachts. The market price of each yacht is $140,000, and each buyer demands no more than one yacht. Suppose that Bob is the only consumer in the yacht market. His willingness to pay for a yacht is $245,000. Based on Bob's willingness to pay, the following graph shows his demand curve for yachts. Shade the area representing Bob's consumer surplus using the green rectangle (triangle symbols). Bob's Demand Bob's Consumer...
1.Which of the following are key results of price discrimination? A. Profits increase and consumer surplus...
1.Which of the following are key results of price discrimination? A. Profits increase and consumer surplus increases. B. Profits descrease and consumer surplus decreases. C. Profits decrease and consumer surplus increases. D. Profits increase and consumer surplus decreases. 2.Children are charged less than adults for admission to professional baseball games but are charged the same prices as adults at the concession stands. This pricing system occurs because: A. children have an elastic demand for game ticket but an inelastic demand...
2. Individual demand and consumer surplus Consider the market for yachts. The market price of each...
2. Individual demand and consumer surplus
Consider the market for yachts. The market price of each yacht
is $350,000, and each buyer demands no more than one yacht.
Suppose that Sam is the only consumer in the yacht market. His
willingness to pay for a yacht is $560,000. Based on Sam's
willingness to pay, the following graph shows his demand curve for
yachts.
Shade the area representing Sam's consumer surplus using the
green rectangle (triangle symbols).
Now, suppose another buyer,...
Individual demand and consumer surplus Consider the market for yachts. The market price of each yacht...
Individual demand and consumer surplus
Consider the market for yachts. The market price of each yacht
is $180,000, and each buyer demands no more than one yacht.
Suppose that Clancy is the only consumer in the yacht market.
His willingness to pay for a yacht is $315,000. Based on Clancy's
willingness to pay, the following graph shows his demand curve for
yachts.
Shade the area representing Clancy's consumer surplus using the
green rectangle (triangle symbols).
Now, suppose another buyer, Eileen,...
What is meant by consumer surplus? a)It is the net gain that buyers obtain from purchasing...
What is meant by consumer surplus? a)It is the net gain that buyers obtain from purchasing a good. b)It is the area enclosed by the demand and supply curves. c)It is the difference between the good’s price and its cost per unit. d)It is the maximum monetary amount that a person would be willing to pay for a good. e)It is the total satisfaction from the consumption of a good.
If the price of a bottle of orange juice is $0.75, the total consumer surplus received...
If the price of a bottle of orange juice is $0.75, the total consumer surplus received by these consumers is S (Enter your response rounded to hwo decimal places) Suppose the price of a bottle of orange juice rises to $150 Once the price of a bottle of orange juice rises to $1 50, the total consumer surplus received by these consumers is : $(Enter your response rounded to hwo decimal places) If the price of a bottle of orange...
1. Assuming $5 to be the equilibrium price for this market, please shade in Consumer Surplus...
1. Assuming $5 to be the equilibrium price for this market, please shade in Consumer Surplus (CS), Producer Surplus (PS), and Total Surplus (TS). 2. Assume Felix is willing to pay $8 for a pizza cutter. Tim also wants one, but would only be willing to pay $6 for one. At a pizza baker\'s convention, Felix buys the last pizza cutter at the market price just before Tim could buy it. Tim contacts the convention organizers and complains about missing...
Which of the following best defines producer surplus? O The difference between the price that suppliers...
Which of the following best defines producer surplus? O The difference between the price that suppliers actually O A situation in which all of the potential gains from trade have been realized. O The difference between the price that suppliers actually receive and the minimum price they would be willing to accept. receive and the maximum price they would be willing to accept. O The difference between the maximum price consumers are willing to pay and the price they actually...
Advances in tax software such as TurboTax influenced the income tax preparer market in the following way: O The demand for income tax preparers (the person who calculates and prepares your income tax return) fell and as a result, there are fewer tax preparer jobs. O The supply for income tax preparers (the person who calculates and prepares your income tax return) fell and as a result, there are fewer tax preparer jobs. O The demand for income tax preparers...
2. Individual demand and consumer surplus Consider the market for yachts. The market price of each yacht is $140,000, and each buyer demands no more than one yacht. Suppose that Bob is the only consumer in the yacht market. His willingness to pay for a yacht is $245,000. Based on Bob's willingness to pay, the following graph shows his demand curve for yachts. Shade the area representing Bob's consumer surplus using the green rectangle (triangle symbols). Bob's Demand Bob's Consumer...
2. Individual demand and consumer surplus
Consider the market for yachts. The market price of each yacht
is $350,000, and each buyer demands no more than one yacht.
Suppose that Sam is the only consumer in the yacht market. His
willingness to pay for a yacht is $560,000. Based on Sam's
willingness to pay, the following graph shows his demand curve for
yachts.
Shade the area representing Sam's consumer surplus using the
green rectangle (triangle symbols).
Now, suppose another buyer,...
Individual demand and consumer surplus
Consider the market for yachts. The market price of each yacht
is $180,000, and each buyer demands no more than one yacht.
Suppose that Clancy is the only consumer in the yacht market.
His willingness to pay for a yacht is $315,000. Based on Clancy's
willingness to pay, the following graph shows his demand curve for
yachts.
Shade the area representing Clancy's consumer surplus using the
green rectangle (triangle symbols).
Now, suppose another buyer, Eileen,...
If the price of a bottle of orange juice is $0.75, the total consumer surplus received by these consumers is S (Enter your response rounded to hwo decimal places) Suppose the price of a bottle of orange juice rises to $150 Once the price of a bottle of orange juice rises to $1 50, the total consumer surplus received by these consumers is : $(Enter your response rounded to hwo decimal places) If the price of a bottle of orange...
Which of the following best defines producer surplus? O The difference between the price that suppliers actually O A situation in which all of the potential gains from trade have been realized. O The difference between the price that suppliers actually receive and the minimum price they would be willing to accept. receive and the maximum price they would be willing to accept. O The difference between the maximum price consumers are willing to pay and the price they actually...
Most questions answered within 3 hours.
-
Accent Software faces the following conditions. All of these
support Accent’s use of a market-penetration pricing...
asked 8 minutes ago -
A mathematically inclined friend emails you the following
instructions: "Meet me in the cafeteria the first...
asked 11 minutes ago -
A monopoly sells in two countries . The demand curves in the two
countries are p1...
asked 1 hour ago -
A .15kg rubber ball is bounced off a wall. Before hitting the
wall, the ball moves...
asked 1 hour ago -
A manufacturing company preparing to build a new plant is
considering three potential locations for it....
asked 1 hour ago -
B. If compound Y has approximately the same values of solubility
in toluene as compound X,...
asked 2 hours ago -
Oscar Inc. has inventory in Japan valued at 39,051,000 Yen one
year ago. One year ago...
asked 2 hours ago -
If Canada suffered from "fundamental disequilibrium," and its
government choose not to devalue its currency, a...
asked 2 hours ago -
4. How many input & output Key Value Pairs are passed into,
and emitted out of...
asked 2 hours ago -
Why would your heart not function well if constructed of
skeletal muscle? What is the particular...
asked 2 hours ago -
Please respond to this essay question in full essay form for
Chemistry 1102 Organic and Biochemistry:...
asked 2 hours ago -
Determine the head loss and velocity of flow in a water supply main
of 15.0 cm...
asked 2 hours ago