The market for pizza is characterized by a downward-sloping demand curve and an upward-sloping supply curve.
a. Draw the competitive market equilibrium. Label the price, quantity, consumer surplus, and producer surplus. Is there any deadweight loss? Explain.
b. Suppose that the government forces each pizzeria to pay a $1 tax on each pizza sold. Illustrate the effect of this tax on the pizza market, being sure to label the consumer surplus, producer surplus, government revenue, and deadweight loss. How does each area compare to the pre-tax case?
Answers
a. Pizza market equilibrium is determined by the intersection of demand and supply curves with surplus, but no deadweight loss.
b. A pizza tax shifts supply curve upward, decreasing surplus, generating revenue, but with a deadweight loss due to market inefficiency.
a. How is pizza market equilibrium determined?The competitive pizza market equilibrium is where the downward-sloping demand curve intersects with the upward-sloping supply curve.
At this equilibrium point, the price and quantity are determined.
The consumer surplus is the area between the demand curve and the equilibrium price, while the producer surplus is the area between the supply curve and the equilibrium price.
There is no deadweight loss at the equilibrium point since the quantity supplied is equal to the quantity demanded.
b. How does a pizza tax affect the market?When the government imposes a $1 tax on each pizza sold, the supply curve shifts upward by the amount of the tax.
This results in a new equilibrium with a higher price for pizza and a lower quantity of pizza consumed.
The consumer surplus decreases due to the higher price, and the producer surplus decreases due to the lower quantity.
The government revenue is the tax amount multiplied by the quantity of pizza sold. There is also a deadweight loss due to the reduction in consumer and producer surplus.
The deadweight loss is the area between the new supply curve and the demand curve, above the new equilibrium quantity, and below the pre-tax equilibrium quantity.
Compared to the pre-tax case, the consumer surplus is lower, the producer surplus is lower, the government revenue is higher, and there is a deadweight loss due to the tax.
The deadweight loss represents a loss of efficiency in the market and is a measure of the overall welfare loss to society.
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Related Questions
Gross domestic product is calculated by summing up
A) the total quantity of goods and services in the economy.
B) the total quantity of goods and services produced in the economy during a per
C) the total market value of goods and services in the economy.
D) the total market value of final goods and services produced in the economy
Answers
Gross domestic product is calculated by summing up (D ) the total market value of final goods and services produced in the economy.
GDP is the all-out amount of market worth of all items created by an association inside a country within a given time limit. it is utilized as a marker that shows the country's abundance condition within a determined time limit. assuming the Gross domestic product of any nation is looking great that means the nation is creating great pay from all areas of assembling merchandise.
Gross domestic product means "GDP" and addresses the all-out financial worth of every single last great and administration created (and sold available) inside a country during a timeframe (regularly 1 year).
Hence option (D) is correct.
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will give brainliest if correct (repost)
Answers
Answer:
decrease in demanded
Explanation:
the green one is the answer
Answer:
The other person is correct
Explanation:
have a great rest of your day :)
Which workplaces are typical for someone working in Marketing, Sales, and Service? Select all that apply,
A factories
B offices
C customer's homes
D home offices
E stores
F warehouses
G La vehicles
H research centers
Answers
The workplaces that are typical for someone working in Marketing, Sales, and Service are:
storesfactorieswarehousesWhy do people work in Marketing, Sales, and Service?Majority work in these section to promote product and sales of goods and service.
Hence, the typical workplaces of someone working in Marketing, Sales, and Service includes stores, factories and warehouses.
Therefore, the Option A, E and F is correct.
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Answer:
A. Factories
E. Stores
F. Warehouses
Explanation:
Which expression is equivalent to 12(3 + m)? Group of answer choices 36 + 12m 3m + 12m 36m 36 + m
Answers
Answer:
36 + 12m
Explanation:
The first step is to solve the expression be removing the bracket
12(3+m)
36 + 12m
Hence 36+12m represents the expression
If you lose your job in this country, you can claim unemployment and collect money to help you until you can find another job. This is because of economic
security
freedom
equity
growth
(I couldn’t find economics lol)
Answers
This is because of economic "Economic Security".
Economic security is characterized as a person's, family's, or alternately local area's capacity to meet their essential requirements in a feasible and honorable way. This shifts relying upon a person's actual prerequisites, the general climate, and social standards.
When a person is able and eager to work, but they are not employed, they are considered to be unemployed. A person's percentage of the labour force who is jobless is known as the unemployment rate. Consequently, knowing who is employed is necessary to calculate the unemployment rate.
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A company acquires land for $150,000 cash. Additional costs are as follows: Removal of shed, $200 Filling and grading, $2,000 Salvage value of lumber of shed, $80 Broker commission, $5,000 Paving of parking lot, $15,500 Closing costs, $1,200. The company should record the acquisition cost of the land as
Answers
The company should record the acquisition cost of the land as: $150,000 (cash paid) + $200 (removal of shed) + $2,000 (filling and grading) + $1,200 (closing costs) = $153,400.
The acquisition cost of the land should include all costs that are directly related to its acquisition and preparation for its intended use.
In this case, the company paid $150,000 cash to acquire the land, and additional costs of $200 for the removal of the shed, $2,000 for filling and grading, and $1,200 for closing costs should be included in the acquisition cost.
However, the salvage value of the lumber of the shed and broker commission are not considered part of the land acquisition costs since they are related to the disposal of the shed and the services of a broker, respectively. The cost of paving the parking lot is considered a cost related to improving the land, but it is not part of the land acquisition cost since it is considered a separate asset.
Therefore, the company should record the acquisition cost of the land as:
$150,000 (cash paid) + $200 (removal of shed) + $2,000 (filling and grading) + $1,200 (closing costs) = $153,400.
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can anyone please help me please.
At the zoo, Brooke learn that one of the rhinos weighs 4,897 pounds, one of the giraffes weighs 2,667 pounds, one of the African elephants 12,456 pound and one of the Komodo dragons weighs 123 pounds.
A. What is the combined weight of the zoo's African elephant and the giraffe?
B.What is the combined weight of the zoo's African elephant and the rhino?
C. What is the combined weight of the zoo's African elephant, the rhino and the giraffe
D. what is the combined weight of the zoo's Komodo dragon and the rhino?
E. How do you found the answer.
Answers
Answer:
A=15,123
B=17353
Explanation:
A = 12456+4897=15,123
B= 4897+12456=17,353
What type diversification is when a firm enters a different business that has little horizontal interaction with other businesses of a firm?
Answers
Answer:
The type of diversification you are referring to is called unrelated diversification, also known as conglomerate diversification. Unrelated diversification occurs when a firm enters a different business that has little horizontal interaction with other businesses of the firm. This strategy involves expanding into industries or markets that are not related to the company's existing core business, products, or services. The primary goal of unrelated diversification is to reduce risk by spreading investments across various industries and markets.
Unrelated diversification can be achieved through various means, such as mergers and acquisitions, joint ventures, or internal development of new products or services. This strategy allows companies to capitalize on their strengths and resources while minimizing the impact of industry-specific risks. However, it also presents challenges in terms of managing diverse businesses and maintaining focus on core competencies.
Some advantages of unrelated diversification include:
1. Risk reduction: By investing in different industries, a company can reduce its exposure to risks associated with a single industry or market.
2. Growth opportunities: Diversifying into unrelated businesses can provide new growth opportunities that may not be available within the company's existing industry.
3. Resource utilization: Companies can leverage their resources, such as management expertise or financial strength, to enter new markets and gain a competitive advantage.
Some disadvantages of unrelated diversification include:
1. Lack of synergy: Unrelated businesses may not benefit from synergies that could be achieved through related diversification strategies.
2. Management challenges: Managing a diverse portfolio of businesses can be complex and may require additional resources and expertise.
3. Dilution of focus: Expanding into unrelated industries may cause a company to lose focus on its core competencies and weaken its competitive position in its original market.
Employers will consider an application valid even if it has not been signed.
T or F
Answers
When taking notes in science and mathematics courses, you should
a. take all notes in blue or black ink pen.
b. summarize what the instructor says in your own words.
c. write down answers to worked problems.
d. use standard symbols, abbreviations, and scientific notation.
Answers
When taking notes in science and mathematics courses, you should summarize what the instructor says in your own words.
What's science? Science is a methodical enterprise that builds and organizes knowledge in the form of testable explanations and prognostications about the macrocosm.Science may be as old as the mortal species, and some of the foremost archeological substantiation for scientific logic is knockouts of thousands of times old. The foremost written records in the history of wisdom come from Ancient Egypt and Mesopotamia in around 3000 to 1200 BCE. What's mathematics? Mathematics is an area of knowledge that includes similar motifs as figures( computation and number proposition), formulas and affiliated structures( algebra), shapes and the spaces in which they're contained( figure), and amounts and their changes( math and analysis).Learn more about mathematics here:
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How long do cross-departmental teams work together?
Answers
Answer:
First, department heads should be modeling cross-departmental collaboration by regularly and visibly engaging with each other – and with each other’s teams. If they notice that their department is becoming too isolated or is hesitant to collaborate with others, these leaders should be the first to start building bridges, and not just directing others to do so. Second, you need a mechanism in place to effectively collect employee feedback, in a way that makes employees feel safe from any negative consequences for speaking up.
Explanation:
Hope this helped! :)
which economic indicators most strongly suggest than an economy is experiencing the expansion phase of the business cycle?
Answers
The economic indicators that most strongly suggest that an economy is experiencing the expansion phase of the business cycle are as follows: GDP Growth Rate, Employment, Consumer Confidence, Industrial Production, Investment and Capital Spending.
1. GDP Growth Rate: The growth rate of gross domestic product (GDP) is a crucial indicator of economic expansion. When the GDP is growing rapidly, it suggests that the economy is experiencing an expansion phase.
2. Employment: When an economy is in expansion, it will generate jobs, lowering unemployment rates. Therefore, falling unemployment rates indicate that the economy is growing.
3. Consumer Confidence: Consumer confidence is critical to the expansion phase of the business cycle. A rise in consumer confidence suggests that individuals believe that the economy will continue to grow.
4. Industrial Production: Industrial production also a crucial economic indicator. Industrial production growth shows that there is increased demand in the economy, meaning that it is growing.
5. Investment and Capital Spending: When businesses are investing in the economy by increasing their capital expenditure, it indicates that they believe the economy will continue to grow. When companies invest, it leads to increased job creation and economic growth.
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Is 817 a good credit score?
Answers
Yes, 817 is a very good credit score, according to experts.
This indicates that someone with a credit score of 817 is seen as having a very low probability of defaulting on their debts.
What is a Good Credit Score?Generally speaking, a credit score of 700 or higher is regarded to be good, though this can change based on the scoring methodology being utilized.A high credit score can facilitate credit applications and lead to more favorable terms such as lower interest rates.A score of at least 800 is excellent and belongs to the highest category of credit scores.It's a record of your credit history, including whether you pay your payments on time, how many credit cards you have, what kinds of credit you use, and how much debt you have.If you apply for a loan or a credit card, the lender will look at your credit history before approving you.A person with a credit score of less than 600 is said to have poor credit, and they may find it difficult to get credit or receive less favourable terms.To learn more about good credit score from the given link :-
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Which buyer type has an open mind and tends to take chances on new products without hesitation?
a. ready buyer
b. logical buyer
c. stubborn buyer
d. emotional buyer
Answers
Answer:
A
Explanation:
Which two national sports league attract the most female fans?
A. Major League Soccer and Major League Baseball
B. Major League Baseball and the National Football League
C. NASCAR and the National Football League
D. The National Hockey League and Major League Baseball
Answers
Answer:
B
Explanation:
Major League Baseball and the National Football League
Jim is head of the marketing department and must decide how to allocate a fixed amount of funds. There are two top projects that Jim believes hold the most promise. Recently, the majority of funds have been allocated to Project A, but Jim wonders if it is time to provide Project B with a larger share of the money. Jim decides to assign a particular individual, Clara, to thoroughly criticize the proposal for Project B, looking for every possible flaw. Which technique is Jim using to help him make a better decision
Answers
Answer:
Devil's Advocacy
Explanation:
Devil's advocacy states that when an organization permits to an individual for criticizing the happenings in the firm at the time when the decision is relevant. The other person would be limited to access so this would increase the productivity and limits the group thinking
So here according to the given situation, Jim's allowance of Clara to display the proposal for criticism is called as the Devil's advocacy.
what is journal entry for purchase goods from ram on cash rs 4000
Answers
Answer:
Purchased a/c ........Dr. rs.4000
To, cash a/c rs.4000
This is a receipt for a purchase made at a restaurant in
Sacramento, California.
The total cost of the food and drinks before taxes was
The buyer paid vin sales tax.
Based on the receipt, Sacramento has a sales tax rate
of
Answers
Answer:
10.00 , .85 , 8.5
Explanation:
Answer:
This is a receipt for a purchase made at a restaurant in Sacramento, California.
The total cost of the food and drinks before taxes was
✔ $10.00
.
The buyer paid
✔ $0.85
in sales tax.
Based on the receipt, Sacramento has a sales tax rate of
✔ 8.5%
.
Sean works at Rowen Corp., an environmentally conscious apparel manufacturing company. He primarily focuses on the tastes and needs of the firm's customers. He achieves this by managing a team that regularly interacts with customers through various promotional activities and events. He also provides insights on how to produce eco-friendly outfits through his specialized knowledge of cost-efficient manufacturing processes. This implies that Sean:_______.a) is an HR professional.
b) encourages centralized decision making.
c) is a knowledge worker.
d) encourages a narrow business focus.
e) belongs to the external labor market.
Answers
Answer:
c) is a knowledge worker
Explanation:
A knowledge worker is an individual who is skillful, experienced, educated and whose duty is to apply his or her thinking creativity on the job. According to Peter Drucker, a knowledge worker is someone who is innovative and creative in terms of developing new products and services and one who always find a better way of doing things.
The job of a knowledge work is very complex hence involves expertise on the subject field. A knowledge worker most often develop new ideas and strategies to meeting needs of people rather than focusing on manual and repetitive work. Example of knowledge workers includes but not limited to engineers, scientists, physicians, lawyers etc.
pricing is the determination of an exchange price at which the seller perceives optimum value for a good or service.
true
false
Answers
Pricing is the process of choosing an exchange rate at which the seller believes their product or service offers the best value. is true assertion
What is the value?Values are the benchmarks or ideals by which we judge the acts, traits, possessions, or circumstances of others. Values that are embraced by many include those of beauty, honesty, justice, peace, and charity.
Pricing is the process of establishing an exchange rate at which both the buyer and the seller consider a good or service to be worth the most money. The amount that buyers and sellers value are ready to accept is known as the exchange price.
Therefore, The vendor feels that their good or service is the best value. is accurate statement
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The buyer of an industrial complex wants the broker to place the earnest money in an interest bearing account. The broker does this, clearly identifying all parties who are to receive the interest and the date the earned interest is to be disbursed. With only the verbal consent of the buyer, he places the money in an insured account in a depository in Florida. When the time comes to disburse the account, the broker will write a check to the buyer for the interest as the buyer agreed. Which statement describing this situation applies?
Answers
Answer:
Explanation:
In this situation, the statement that would best apply would be that the broker does not have the right to ever use an interest-bearing account under Florida Real Estate laws. Since Florida Real Estate laws specifically prohibit a broker from placing a clients money in an interest account then the broker in this scenario is breaking the law and can have his real estate license taken away as well as being fined.
The average mututal fund includes 90-200 companies.
O True
O False
Answers
Answer:
I think it will be false
What is an employee referral?
Answers
An employee referral program is a recruiting strategy in which employers encourage current employees, through rewards, to refer qualified candidates for jobs in their organizations.
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What was the stamp act?
Don't Spam!
Answers
The stamp act is what happened after a war so that The british could pay off there debt
State Seven ways you can make money as a student through agriculture
Answers
Answer:
1.by learning in school
2.by helping farmers out there with the little idea you have.
3.by practicing it
4.plant and sell it .etc
the slope of the demand curve for a monopoly firm is:
Answers
Answer:sorry man, don’t know
Explanation:
Having more information is a key tenet of? the expectation principle maximum likelihood principle laplace principle decision theory
Answers
Having more information is a key tenet of the decision theory, which emphasizes the importance of gathering and considering relevant information to make informed decisions.
The decision theory holds that making optimal decisions requires gathering as much relevant information as possible. By obtaining more information, decision-makers can enhance their understanding of the problem at hand, assess the potential outcomes and associated probabilities, and make informed choices.
This principle recognizes that having access to a greater amount of information increases the likelihood of making accurate predictions, evaluating risks, and selecting the most favorable course of action. It aligns with the idea that decisions should be based on sound reasoning, analysis, and the best available evidence. Thus, the tenet of having more information is central to the decision theory and its objective of making rational and optimal decisions.
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What capability do smartphones have that telephones with earlier technology lacked?
wireless technology
data services
mobility
voice transmissions
Answers
Answer
data service
Explanation:
edge
european union subsidizes its farmers. how do these subsidies make it difficult for farmers in developing economies to compete in the world farm market?
Answers
European union subsidizes its farmers. By encouraging export dumping and overproduction subsidies make it difficult for farmers in developing economies to compete in the world farm market.
The required details about subsidies are mentioned in the paragraph below.
European Union agricultural subsidies are destroying livelihoods in growing countries. By encouraging over-manufacturing and export dumping, those subsidies are using down international expenses of key commodities, which include sugar, dairy, and cereals. Subsidies inspire non-public corporations to adopt monetary sports and enterprise ventures that the authorities sees as withinside the public's high-quality interest. Government spending on subsidies influences each quarter of the worldwide economy. Subsidies are furnished through each federal or country wide governments and nearby governments. cash given through a central authority or an agency to lessen the price of manufacturing food, a product, etc. and to assist to maintain expenses low: authorities/public/kingdom subsidies.
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Question 9:
Choices are: Strategy, description, loyalty, positioning
Answers
Product Positioning is the right term to fill the above.
What is Product Positioning?Product Positioning and technique allude to the method of situating a product or service within the advertise to realize a competitive advantage, and creating a arrange to optimize generation and promoting endeavors to realize trade goals.
Product situating includes recognizing the unique selling proposition (USP) of a item or benefit, and utilizing that to distinguish it from competitors. This may well be based on variables such as quality, cost, highlights, or client benefit.
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