Business, 28.09.2020 14:01 BeverlyFarmer

Use the willingness-to-pay information about the buyers (Ariel, Bridget, and Connie) and the willingness-to-accept information about the sellers (Daniel, Etienne, and Franklin) below to construct a "stepped" demand and supply diagram like this one from my
notes on Unit #7. (You'll also have one question to answer below.)
Willingness-To-Pay information
Ariel Bridget Connie
Willingness-to-pay for the 1" widget $8 $11 $9
Willingness-to-pay for the 2nd widget $6 $9 $7
willingness-to-pay for the 3rd widget $4 $7 $6
willingness-to-pay for the 4th widget $3 $5 $4
willingness-to-pay for the 5th widget $1 $2 $3
Willingness-To-Accept information
Daniel Etienne Franklin
willingness-to-accept for the 1st widget $1 $2 $3
Willingness-to-accept for the 2nd widget $3 $4 $5
willingness-to-accept for the 3rd widget $6 $6 $7
willingness-to-accept for the 4th widget $9 $9 $10
willingness-to-accept for the 5th widget $12 $11
$12
Note that there are multiple versions of these tables, so if you submit and then try again, you may get an entirely different table.
(To create the curves, you'll first need to create the demand and supply schedules as I did in my notes on Unit #7. Once you've got
the demand and supply schedules, you can refer to this tutorial to see how to construct the curves.)
Draw by hand, or use a software program, to create the demand and supply schedules based on these tables. Then, use the
Assessment called "GA: Consumer and Producer Surplus -- PART 2 to upload your drawing. Note that these tables will not show up
in that Assessment; it is simply there so you have somewhere to upload the drawing.
Your drawing should have the following things clearly labeled: the demand curve, the supply curve, the area of consumer surplus,
and the area of producer surplus.
So here's the question you have to answer before you submit this part:
What's the dollar value of the total surplus (consumer surplus plus producer surplus)?

Answers: 3

Show answers

Other questions on the subject: Business

Business, 22.06.2019 02:00, rsanchez1226

On january 1, 2017, fisher corporation purchased 40 percent (90,000 shares) of the common stock of bowden, inc. for $980,000 in cash and began to use the equity method for the investment. the price paid represented a $48,000 payment in excess of the book value of fisher's share of bowden's underlying net assets. fisher was willing to make this extra payment because of a recently developed patent held by bowden with a 15-year remaining life. all other assets were considered appropriately valued on bowden's books. bowden declares and pays a $90,000 cash dividend to its stockholders each year on september 15. bowden reported net income of $400,000 in 2017 and $348,000 in 2018. each income figure was earned evenly throughout its respective year. on july 1, 2018, fisher sold 10 percent (22,500 shares) of bowden's outstanding shares for $338,000 in cash. although it sold this interest, fisher maintained the ability to significantly influence bowden's decision-making process. prepare the journal entries for fisher for the years of 2017 and 2018. (if no entry is required for a transaction/event, select "no journal entry required" in the first account field. do not round intermediate calculations. round your final answers to the nearest whole dollar.)

Answers: 3

continue

Business, 22.06.2019 03:20, limelight11

Yael decides that she no longer enjoys her job, and she quits to open a gluten-free, dairy-free kosher bakery. she pays a monthly rent for her store of $2,000. her labor costs for one month are $4,500, and she spends $6,000 a month on nut flours, sugar, and other supplies. yael was earning $2,500 a month working as a bank teller. these are her only costs. her monthly revenue is $14,000. which of the following statements about yael’s costs and profit are correct? correct answer(s) an accountant would say she is earning a monthly profit of $1,500. her implicit costs are $2,500 a month. an economist would tell her that she is experiencing a loss. her total costs are $12,500 a month. her explicit costs include the labor, rent, and supplies for her store. her economic profit is $1,500 a month.

Answers: 3

continue

Business, 22.06.2019 08:30, isaicruz2018

Which actions can you improve your credit score? (multiple can be selected)having a good credit score should be your prime objective as credit companies analyze your creditworthiness before giving you a loan. there are certain guidelines you can follow to ensure you have a good credit score. always pay your mortgage interest on time. if you are a student, make student loan inquiries before taking any loan. if you have multiple credit cards, manage them judiciously. maintain a healthy balance in your bank account.1. always pay your mortgage interest on time.2. if you are a student, make student loan inquiries before taking any loan.3. if you have multiple credit cards, manage them judiciously.4. maintain a healthy balance in your bank account.

Answers: 1

continue

Business, 22.06.2019 13:50, trillsmith

Read the following paragraph, and choose the best revision for one of its sentences. dr. blake is retiring at the end of the month. there will be an unoccupied office upon his departure, and it is big in size. because every other office is occupied, we should convert dr. blake’s office into a lounge. it is absolutely essential that this issue is discussed at the next staff meeting. (a) because every other office is occupied, it’s recommended that we should convert dr. blake’s office into a lounge. (b) because every other office is filled, we should convert dr. blake’s office into a lounge.

Answers: 2

continue

You know the right answer?

Use the willingness-to-pay information about the buyers (Ariel, Bridget, and Connie) and the willing...