The price of a bag of chips is $1, but a customer is willing to pay up to $3. What would be the consumer surplus on this purchase?
a. $3
b. $1
c. $2
d. $4
c. $2
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Which of the following is a question that should be answered by a company's mission statement?
A. Will it inspire enthusiasm and encourage commitment? B. Does it set standards of excellence? C. Is it appropriate for the organization? D. Is it well articulated? E. Who is our customer?
The direct materials standards for the main product of Duchess Company are 8 grams of direct materials per product at a cost of $3 per gram. During April, 969 grams of direct materials were used to produce 120 products at a direct materials cost of $2,900. The direct materials quantity variance for April was
A) $57 (U). B) $77 (U). C) $27 (U). D) $97 (F).
How do differences in sales and production level affect net income computed under absorption costing and variable costing?
What is meant by the tenant's duty not to use leased premises for illegal or nonstipulated purposes?
What will be an ideal response?