Which of the following statements is TRUE? A. Total consumer surplus is represented graphically by the area beneath the demand curve.
B. Consumer surplus is the difference between the maximum price a consumer is willing to pay for a good or service and its market price.
C. Bill is willing to pay $10 for a pound of clay. If he buys a pound of clay at a market price per pound of $5, his consumer surplus is $2.
D. Total consumer surplus is represented graphically by the area above the demand curve.

Answer:

c. $340

Explanation:

Given data:

Gross taxable Income = $ 1,166

Rate of Income tax = 30%

To find:

Amount of income tax = ?

Solution:

Amount of income tax = 30 % of 1,166

 =$339.6

=$340

Answer:

c

Explanation:

Answer:

C) Cash...........................600,000............Unearned Subscription Revenue.....600,000

Explanation:

January 31: 60,000 subscriptions sold

• Dr Cash account 600,000
• Cr Unearned Subscription Revenue account 600,000

Since cash is an asset account and it increases, then it should be debited.

Unearned revenue is a liability account, since the company received money in advance for future publications. When liabilities increase, they should be credited.

We will get the most useful insights from the introspection activities if we approach them with an open mind. Thus, Option 3 is the correct choice.

What do you mean by Introspection?

The time period is regularly utilized in regular language to consult the casual procedure of exploring one's internal life, however, the time period additionally applies to a greater formalized procedure that was once used as an experimental approach in psychology is referred to as Introspection.

Thus, Option 3 is the correct choice.

To learn more about Introspection refer:

brainly.com/question/814405

#SPJ2

Answer:

correct option is a. average total cost and average fixed cost.

Explanation:

given data

license fee  = $1,000 per year

solution

we know that cost curves shift will be express as when the increase in the price of factor of production increase cost and shift cost curves upward

so cost curves shift by the average total cost and the average fixed cost

so here correct option is a. average total cost and average fixed cost.

Final answer:

The government's $1,000 license fee increases both the average total cost and average fixed cost, but does not affect marginal cost. The average fixed cost curve shows the effect of spreading the overhead, meaning as more output is produced, the fixed cost per unit decreases.

Explanation:

The government imposes a $1,000 per year license fee on all pizza restaurants. This fee is a fixed cost, which means it doesn't change with the level of output produced. It will affect the restaurant's total costs, but not the costs associated with producing one more unit, or the marginal cost. Therefore, the cost curves that will shift are the average total cost and the average fixed cost.

A common name for fixed cost is "overhead." If you divide the fixed cost by the quantity of output produced, you get the average fixed cost. With a supposed fixed cost of $1,000, the average fixed cost curve would start from the intercept at $1,000 on the vertical axis (when output is zero), and it would decrease as the quantity of output increases, which represents the "spreading the overhead." This means that as you produce more, the fixed cost is spread over more units, and therefore the cost per unit decreases.