Business, 02.06.2020 18:58 ajime

Given the following diagrams: Q1 = 12 bags. Q2 = 7 bags. Q3 = 19 bags. The market equilibrium price is $46 per bag. The price at point a is $70 per bag. The price at point c is $10 per bag. The price at point d is $56 per bag. The price at point e is $31 per bag. The price at point f is $67 per bag. The price at point g is $32 per bag. Apply the formula for the area of a triangle (Area = ½ × Base × Height) to answer the following questions.

What is the dollar value of the total surplus (producer surplus plus consumer surplus) when the allocatively efficient output level Q1 is being produced?

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Answer from: liapis2002

$360

Explanation:

The computation of dollar value of the total surplus is shown below:-

Consumer surplus = 1 ÷ 2 × (Point A price - Equilibrium price) × ( Q1 output level )

= 1 ÷ 2 × ($70 - $46) × 12

= $144

Now the producer surplus is

= Producer surplus = 1 ÷ 2 × (Equilibrium price - Point c price ) × Q1 Output level

= 1 ÷ 2 × ($46 - $10) × 12

= $216

Now Total surplus when output level Q1 is being produced is

As we know that

Total surplus = Consumer surplus + Product Surplus

= $144 + $216

= $360

Answer from: Quest

ans.

heterothermic organisms include those organisms that can switch between homeothermic (having body temperature higher than environment) and poikilothermic (having variation in internal body temperature) strategies.

some migratory birds show heterothermy as they decrease their metabolic rate during cold nights to keep their body temperature low. drop in metabolic rate allows increase in production efficiency of birds that reduces the internal body temperature to make it equal to external cold temperature during cold nights.

thus, the correct answer is 'birds allow their temperature drop in order to increase their production efficiency.'

Answer from: Quest

1 all nations face the problem of scarcity because there are limited resources and unlimited wants. nations do not have enough factors of production to produce everything that their population wants. entrepreneurial resources initiate businesses to make new goods and services; labor resources produce goods and services.

2 there are four factors of production: natural resources, labor resources, capital resources, and entrepreneurial resources. natural resources are raw materials from nature that are used to produce goods. trees, water, and grains are natural resources. some natural resources, such as wheat and cattle, are renewable

3 wants

things that you do not need to have in order to survive, but would like to have

needs

things that you must have in order to survive

goods

physical products

services

tasks that a business perform for customers

resources

items that people can use to make or obtain what they need or want

determine

to settle or decide by choice of alternatives or possiblities

4 i really dont know

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Given the following diagrams: Q1 = 12 bags. Q2 = 7 bags. Q3 = 19 bags. The market equilibrium price...

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