Business, 20.12.2019 05:31 Izayoi

Tom tunes pianos in his spare time for extra income. buyers of his service are willing to pay $155 per tuning. one particular week, tom is willing to tune the first piano for $120, the second piano for $125, the third piano for $140, and the fourth piano for $160. assume tom is rational in deciding how many pianos to tune. his producer surplus is
a. $95.
b. $80.
c. $75.
d. $60.

Answers: 2

Show answers

Answers

Answer from: skdkdksks

B - $80

Explanation: Producer surplus is the difference btw what a consumer is paying and what a producer is charging.

From the above questions, Tom tuned the following pianos:

Buyer willing to pay $155.

Tom tuned piano 1 for $120, therefore his surplus on piano 1 is $155 - $120 = $35

Tom tuned piano 2 for $125, therefore his surplus on piano 2 is $155 - $125 = $30

Tom tuned piano 3 for $140, therefore his surplus on piano 3 is $155 - $140 = $15

Tom tuned piano 4 for $160, therefore his surplus on piano 4 is $155 - $160 = ($5)

All together his surplus is $35+$30+$15 =$80

Answer from: rscott2649

B) $80

Explanation:

The price for every piano tuning = $155, and Tom's costs for tuning pianos area as following:

$120 < $155, producer surplus = $35$125 < $155, producer surplus = $30$140 < $155, producer surplus = $15$160 > $155, producer surplus = -$5

Since Tom is rational, he will only tune 3 pianos per week, since the tuning of the fourth piano is more expensive than the price charged.

Therefore, Tom's total suppliers surplus = $35 + $30 + $15 = $80

Answer from: Quest

whole quiz

1. the sum of all activities involved in getting high-quality products into the marketplace

2.operations

3. the principle of looking at the supply chain as a whole in order to improve the overall flow through the system.

4. produced; performed

5. activities producing tangible products, such as radios, newspapers, buses, and textbooks.

6. activities producing intangible and tangible products, such as entertainment, transportation, and education.

7. customer focus

8. analyzing a competitor's products to identify desirable improvements

9. the systematic direction and control of the processes that transform resources into finished projects that create value for and provide benefits to consumers.

10. operation management.

your welcome leave a rate and a < 3

Answer from: Quest

The advantage of administering personality tests on employees is that it will allow the employer to know the mindset and personality of the employee. this will allow the employer to at least have an idea as to how the employee works and how his attitude in the workplace. the disadvantage is that it may make the employee a little anxious as to whether he would meet the personality requirements of the employer and whether he would be able to retain the job or not.

Another question on Business

Business, 22.06.2019 22:00

Acontractor was awarded a purchase order for commercial items for $1.5 million under the authority of far subpart 13.5. the purchase order was issued in november 2010 and containedall applicable clauses that were current as of the date of the purchase order. under the purchase order, the contractor is required to comply with a small business subcontracting plan that contains all of the required elements. which of the following is true? a.the contractor must submit a standard form 294, subcontracting report for individual contracts. b.the contractor must submit an individual subcontracting report through the electronic subcontracting reporting system (esrs). c.the contractor may submit either an sf 294 or report its subcontracting through esrs. d.the contractor is not required to submit any subcontracting reports.

Answers: 1

Answer

Business, 23.06.2019 07:50

Your company is starting a new r& d initiative: a development of a new drug that dramatically reduces the addiction to smoking. the expert team estimates the probability of developing the drug succesfully at 60% and a chance of losing the investment of 40%. if the project is successful, your company would earn profits (after deducting the investment) of 9,000 (thousand usd). if the development is unsuccessful, the whole investment will be lost -1,000 (thousand usd). your company's risk preference is given by the expected utility function: u(x) v1000 +x, where x is the monetary outcome of a project. calculate the expected profit of the project . calculate the expected utility of the project . find the certainty equivalent of this r& d initiative . find the risk premium of this r& d initiative e is the company risk-averse, risk-loving or risk-neutral? why do you think so?

Answers: 3

Answer

Business, 23.06.2019 07:50

Anew joint command and control system is being developed to meet the strategic information needs of all the military services. the air force is the lead service, but the army and navy have different points of view about what functions the system should perform. which one of the software acquisition best practices would be most relevant in managing this issue as the program office undertakes system development?

Answers: 3

Answer

Business, 23.06.2019 18:30

What does an employee offer an employer

Answers: 2

Answer

You know the right answer?

Tom tunes pianos in his spare time for extra income. buyers of his service are willing to pay $155 p...

Questions