The market demand in the perfectly competitive market for Ramen noodle bowls is Q=270-5P. Suppose market price is $9.5. Consider the people who bought the goods at this price. What is the minimum value of their Marginal Willingness to Pay for the goods they bought? Enter a number only, do not include the $ sign.

Q: PLS HELP ASAP ON BOTH

A: Approach to solving the question:Identify the Problem Areas: Begin by analyzing the reasons for not…

Q: c. How much total consumer surplus will each of them receive at a price of $32?

A: Last parts C and d are answered below:

Q: Which of these is a guideline for making a decision? Guaranteed gain Marginal cost is less than…

A: Optimal decision making requires optimum utilization of resources in order to attain certain level…

Q: List five typical attributes that an entrepreneur should have.

A: The list of five typical attributes that an entrepreneur should have been as follows: Desire to…

Q: What do you understand by emotional labor and emotional managemen

A: In economics, labor refers to the human effort, time, and skill that is used to produce goods and…

Q: Heuristics Multiple Choice are rules of thumb that generate decisions that generally maximize net…

A: Heuristics can be defined as simple, efficient and effective rules uses by people to judge or decide…

Q: Buying and selling textbooks are two separate decisions made at the margin. Textbooks create value…

A: The consumer surplus is when a consumer is willing to pay less than its product price. It is based…

Q: Are options b through e correct or incorrect?

A: A price ceiling is the commanded most extreme amount a dealer is permitted to charge for a product.…

Q: opportunity cost of producing a product from zero

A: Opportunity cost is the benefit that can be driven by not choosing the other alternative.

Q: Do you feel a business’ primary responsibility is to make a profit, or do you feel there is some…

A: The primary responsibility of business is not only to make profits but there are certain other…

Q: Could you solve question D as well

A: The term "LM" stands for the Liquidity-Money Supply framework, an economic model that depicts the…

Q: To what extent do ethical norms reflect a company’s dedication to the Triple Bottom Line?

A: In finance, when we discuss an organization's bottom line, we normally mean its benefits.…

Q: An important trade-off you’re recently faced Describe an incentive your parents offered to you in an…

A: Economics is all about tradeoffs. A tradeoff is loosely defined as any situation where making one…

Q: Describe the top ten communication skills that business leaders search for? Explain.

A: Communication skills are crucial for business leaders, as they are responsible for conveying ideas,…

Q: Why is business ethics a strategic consideration in organizational decisions?

A: The business works ethically by doing what is right to do. Ethics are the norm or principles which…

Q: A pharmaceutical corporation has developed a unique new drug, making the company a monopoly. Demand…

A: For a monopoly, profit maximization occurs at the point where MR equals MC

Q: Many people believe that businesses that commit fraud cannot last long because  (a) the government…

A: Businesses engage in the production and distribution of their goods and services to earn profit.…

Q: can you please help with part D the last two questions, thank you.

A: Given three types of DVD players i.e Deluxe, Standard and Economy. Records for the past 5 years are…