Consumer surplus cs - Study guides, Class notes & Summaries

Consumer Surplus (CS) - Answer - (Maximum Buying Price)-(Price Paid) - Difference between the max price a buyer is willing to pay for a good or service and they price paid Producer Surplus (PS) - Answer - (Price Received)-(Minimum Selling Price) - Difference between price received for a good or service and the minimum selling price Price Ceiling - Answer When governments place a limit on how high a producer may charge for his product Price Floor - Answer A legal minimum on the...

CFI CBCA Core Course Exam Questions And Answers (Verified And Updated) What is the main goal of using business writing fundamentals? - answerTo reduce mental effort Which of the following statements describes a "Capacity" strength or weakness for a company in the 5 Cs of credit framework? - answerThe net profit margin ratio is high. Which of the following statements describes a "Condition" strength or weakness for a company in the 5 Cs of credit framework? - answerThe risks associated...

Distinguish between economic goods and services (EC:002) (CS) correct answers Economic goods are tangible items that a person wants or need therefore exchanges for money *Ex.* food, clothing, toys ~ Services are also exchanged for money, but an activity or service is provided or preformed. *Ex.* hairdresser, doctor checkup, teacher Explain the concept of economic resources (EC:003) (CS) correct answers Economic resources are the factors behind producing goods or providing services. *land*: th...

Final Exam - NUR2063 / NUR2063 (Latest MAY 2023) : Essentials of Pathophysiology - Rasmussen Economics - Lecture notes 16 Economics (University of Nairobi) lOMoAR cPSD| ECONOMICS PART 1 CPA SECTION 2 CCP SECTION 2 CIFA SECTION 2 CS SECTION 2 STUDY TEXT GENERAL OBJECTIVES Page 2 ECONOMICS lOMoAR cPSD| This paper is intended to equip the candidate with knowledge, skills and attitudes that will enable him/her to apply the fundamental principles of economics in decision making 4...

CFI CBCA Core Course Exam Questions And Answers (Verified And Updated) What is the main goal of using business writing fundamentals? - answerTo reduce mental effort Which of the following statements describes a "Capacity" strength or weakness for a company in the 5 Cs of credit framework? - answerThe net profit margin ratio is high. Which of the following statements describes a "Condition" strength or weakness for a company in the 5 Cs of credit framework? - answerThe risks associated...

Peregrine Exam: Microeconomics Review With 100% Correct Answers

Peregrine Exam: Microeconomics Review Questions And Answers With Verified Solutions Already Passed!!!

Peregrine Exam: Microeconomics Review(2023)updatedConsumer Surplus (CS) - correct answer - (Maximum Buying Price)-(Price Paid) - Difference between the max price a buyer is willing to pay for a good or service and they price paid Producer Surplus (PS) - correct answer - (Price Received)-(Minimum Selling Price) - Difference between price received for a good or service and the minimum selling price Price Ceiling - correct answer When governments place a limit on how high a producer may cha...

game theory - ANSWER-aid to decision making when agents' payoffs, depends on the actions taken by other players simultaneous-move game - ANSWER-makes decision without the knowledge of the other players decisions sequential-move game - ANSWER-makes moves after observing the other player's move one-shot game - ANSWER-make decisions only one repeated game - ANSWER-make decisions more than once dominant strategy - ANSWER-strategy that result in the highest payoff to a player regardl...

What is strategy? An integrated set of goal-directed actions a firm takes to gain and sustain competitive advantage. What are the 2 business analysis? Internal and External. What are the 3 business strategies? 1) Cost, 2) Differentiation, 3) Innovation. What is competitive advantage? Superior performance relative to other competitors in the same industry or the industry average. How do you assess competitive advantage? Compare firm performance to a benchmark. ...