The sum of consumer surplus and producer surplus when efficiency is attained is known as social surplus, which is maximized at market equilibrium where demand and supply intersect.
When efficiency is attained, the sum of the total amount of consumer surplus and producer surplus is known as the social surplus, also called the economic surplus or total surplus. This represents the net benefit to society from economic activities. Consumer surplus is the difference between what consumers are willing to pay and the market equilibrium price, while producer surplus is the difference between the market price and the minimum price at which producers would still sell.
At an efficient level of output, often found at the point where demand and supply intersect, it's impossible to increase consumer surplus without decreasing producer surplus, and vice versa. The total surplus at equilibrium is larger than at any other quantity or price, indicating maximum social welfare.
Deadweight loss refers to the loss in total surplus that happens when the economy operates at an inefficient quantity, deviating from the equilibrium point. Therefore, the absence of deadweight loss at equilibrium suggests that the economy is in its most efficient state.
Nominal gdp is: question 31 options:
a.the inflation-adjusted gdp.
b.the constant-dollar gdp.
c.the real gdp minus depreciation.
d.the current-dollar gdp.
The fundamental purpose of the starting phase of a project is ________.
A company that manufacturers frozen food items is employing the shaping process to get consumers to try its products the free samples offered by the company along with discount coupons have been received well by the consumers the next step in shaping process is to
Southeast asian countries export a large portion of their palm oil production, sending much of it to which areas?
Final answer:
Southeast Asian countries export a large portion of their palm oil to high-demand regions like India, China, and the European Union. The industry has significant environmental implications due to the effect of plantations on biodiversity. Malaysia's strategic location has made it a key player in palm oil exports.
Explanation:
Southeast Asian countries, particularly leading producers such as Malaysia and Indonesia, export a significant portion of their palm oil production. Much of this palm oil is exported to areas with high demand for vegetable oil and biofuels, which includes countries such as India, China, and members of the European Union. These regions rely on Southeast Asian palm oil for its versatile use in the food industry and its renewable potential as a biofuel, despite environmental concerns over the expansion of oil palm plantations.
Malaysia has especially optimized its export capability by capitalizing on its strategic location along major shipping routes, thus becoming a leader in palm oil exportation. This has been a part of the country's broader shift to manufacturing and the development of its agricultural and extractive sectors that began in the 1980s and 1990s.
The global demand for palm oil continues to drive the expansion of oil palm plantations in Southeast Asia, which in turn has significant implications for biodiversity due to the replacement of native forest habitats, as seen in places like Sabah province in Borneo, Malaysia.
Which organizational structure did jack welch use at ge to eliminate vertical and horizontal lines within ge and to break down external barriers between the company and its customers and suppliers?
The organizational structure that Jack Welch use at GE to eliminate vertical and horizontal lines within GE and to break down external barriers between the company and its customers and suppliers is a boundary less organization.
Further Explanation:
Boundary less Organization: It is referred to an organizational structure that does not have any structures and is based on the idea of the free flow of information, efficiency, innovation, and growth so as to remain competitive in the constantly changing world. The concept was introduced by Jack Welch, who is a management thinker and former chairman of General Electric. The important principle of these organizations is adaptability and flexibility.
These organization also make use of the advanced tools and technology to facilitate the breaking down of vertical and horizontal lines. This helps in establishing a better and fast communication channel. This increases the productivity and efficiency of the organization.
Therefore, Jack Welch at GE should introduce a boundary less organization to break down external barriers with the customers and the suppliers.
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Answer details:
Grade: Middle School
Subject: Business Studies
Chapter: Organizational Structure
Keywords: Organizational structure, Jack Welch, GE, vertical and horizontal lines, external barriers, a boundary less organization, business studies.
______________ of leaders include gathering, analyzing, and communicating various materials for the company both internally and externally.
what is 55 billion expressed in scientific notation?
One characteristic that is important to consider in social network theory is reciprocity of relationships
The answer to this statement is true. It is because reciprocity is one of the characteristics that are needed to be considered in social network theory. The other characteristics that are also needed to be considered are the following; density, formality, complexity, homogeneity, intensity and geographic dispersion.
What are the four qualities of leadership that engender trust according to bennis and goldsmith?
The four qualities of leadership that engender trust according to Bennis and Goldsmith are vision, empathy, consistency, and integrity. Leaders who pull people together based on shared beliefs and common sense of belonging are called visionary leaders. Empathic leaders understand the world as we see and experienced it. Consistency leaders understand changes as a process of evolution while integrity leaders demonstrate a commitment to higher principles through their actions.
Anthony, the plant manager, was talking with another manager about tim, the lead engineer in the corporate r & d department. anthony remarked, "tim is so bright, and he is an expert in designing products. but like so many experts, he can't imagine what it's like to be as ignorant as the rest of us. i think at times, he cannot see things from an outsider's perspective." tim is suffering from
Tim is suffering from a narrow perspective. This is where an individual tends to be narrow minded. These are people who usually has a limited outlook in terms of considering other things such as ideas, perspectives or other suggestions—in which, they will likely not listen to other people.
Why do economists study the money supply? Be sure to mention liquidity in your response.
A project has an initial cost of $6,500. the cash inflows are $900, $2,200, $3,600, and $4,100 over the next four years, respectively. what is the payback period?
Pay Back Period is a capital budgeting technique which shows the period at which the initial investment is returned in a project.
Payback Period = A + (B ÷ C)
In the above formula,
A is the last period with a negative cumulative cash flow = 2 Years;
B is the absolute value of cumulative cash flow at the end of the period A = $3,400;
C is the total cash flow during the period after A = $3,600
Payback period = 2 + ( $3,400 ÷ $3,600)
= 2 + 0.9444
= 2.944 years
Therefore, the payback period is 2.944 years.
*Note: The image attach shows the calculation of Cumulative cash flows)
What are six disadvantages of self-employment?
A large percentage of the population in ethiopia and afghanistan make insufficient money to afford food and other necessities of life. in view of this, which phrase best describes these people in ethiopia and afghanistan?
What are ethics? how would they apply to business and technology?
Jim provides employees the opportunity to self-manage and make decisions over their own work processes. his leadership style is best described as:
The major drawback of most fad diets is:
a. they promote false information about weight loss.
b. they do not create lifestyle changes to support long-term weight control.
c. they create false hopes among those who try them.
d. they usually require the purchase of dietary supplements.
Suppose that a country's annual growth rates over a 10-year period are as follows: year growth rate 1 5% 2 3 3 4 4 – 1 5 – 2 6 2 7 3 8 4 9 6 10 3 instructions: in part a, round your answer to 1 decimal place. in part b, enter your answers as whole numbers.
a. what was the country's trend rate of growth over this period?
b. which set of years most clearly demonstrates an expansionary phase of the business cycle?
Final answer:
The country's trend rate of growth over the 10-year period is 2.7%. Years 8 and 9 most clearly show an expansionary phase in the business cycle, with significant growth from 4% to 6%, indicating a phase of rapid growth.
Explanation:
To calculate the country's trend rate of growth over this period, we can find the average of the annual growth rates provided. Summing these rates: 5% + 3% + 4% + (-1%) + (-2%) + 2% + 3% + 4% + 6% + 3% gives us a total of 27%. Dividing by 10 years, we get an average annual growth rate of 2.7%. Hence, the country's trend rate of growth over this 10-year period, rounded to one decimal place, is 2.7%.
Considering the business cycle's pattern of expansion and contraction, the set of years that most clearly demonstrates an expansionary phase of the business cycle would be a consecutive period where growth rates are consistently increasing. Here, we see that from year 8 to year 9, there is a jump from 4% to 6%. Hence, years 8 and 9 represent an expansionary phase, though considering broader trends, the data from year 6 through year 10 could also be indicative of expansion.
Mike and tom debone chicken breasts for ted's chicken co. mike is new and can only debone 30 chicken breasts per hour by hand, while tom's experience allows him to debone 60 chicken breasts per hour by hand. ted buys one new machine that can debone 100 chicken breasts per hour. both mike and tom work the same 40 hours per week, but one of them is assigned to operate the machine instead of deboning the chicken breasts by hand. to obtain maximum average hourly productivity, ______ is assigned to use the machine and their combined average hourly productivity as a team is ______ chicken breasts
If herman were to not hire jake, what would jake have to show to win an age discrimination in employment act (adea) case
An account that would be increased by a debit is
A. cash.
B. fees earned.
C. capital.
Answer:
INCORRECT ANSWER A. cash is INCORRECT
Explanation:
__________ protect equipment from too much current by tripping a switch that breaks the circuit, stopping the flow of electricity. A. Amp B. Circuit Breaker C. Fuse
Circuit Breakers protect equipment by automatically opening the circuit if too much current flows through, which can be reset unlike a fuse that must be replaced after melting due to excessive current.
Circuit Breakers protect equipment from too much current by tripping a switch that breaks the circuit, stopping the flow of electricity. Unlike an amp, which is a unit of electric current, or a fuse, which is a one-time use safety device, a circuit breaker can be reset. Circuit breakers are rated for a maximum current, and they open automatically to protect the circuit.
A fuse consists of a piece of wire with a low melting point inserted in a circuit. If the current exceeds a certain level, the wire melts, opening the circuit to prevent damage or fire. Circuit breakers provide a similar protection but are more convenient because they can be easily reset after tripping.
When doing business in russia, it is not appropriate to look directly into the eyes of your russian hosts?
Producer surplus is represented by the area ________ the supply curve and ________ the price.
Samuel applied for a loan to purchase a new car. his application was denied. what should he do now?
What is the maximum fine imposed for a first offense for a minor who has purchased alcoholic beverages?
The maximum penalties for first-time offenders are $500 in many states for a first offence for a minor who has purchased alcoholic beverages.
What is alcoholic beverages?A variety of drinks with varying alcohol contents fall under the category of alcoholic beverages. Among the alcoholic beverages that are produced on a wide scale are beer, wine, China rice wine, and distilled spirits such brandy, whiskey, rum, gin, cognac, vodka, tequila, and China distilled spirit.
The demand for alcoholic beverages such as brandy, whiskies, rum, gin, and other gins, as well as wine, white wine, other grape-based wines, and other alcoholic beverages has increased on a global scale. India is the third-largest market for alcoholic beverages worldwide.
Alcohol poisoning and intoxication are more likely to occur more quickly and at lower dosages in alcoholic beverages that contain more alcohol than others.
Thus, The maximum penalties for first-time offenders are $500.
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which one of the following. in addition to disciplinary program and drug-test, can employers misuse as a form of retaliation against an employee for reporting a workplace injury or illness?
____ contracts reduce the risk of incurring higher costs than expected.
The recommended model to estimate the cost of common equity for a firm is
The legal documents that identify the basic agreements between partners are called: