SAPLINGPLUS ACCESS MICRO 1 TERM
4th Edition
ISBN: 9781319319038
Author: KRUGMAN
Publisher: MAC LTD
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Chapter 4, Problem 7P
To determine
On Thursday nights, a local restaurant has pasta special. Ari likes the restaurant’s pasta, and his willingness pay for each serving is shown in the accompanying table.
(a)
How much(b)
How much consumer surplus when the price increased to $6.(c)
How much pasta Ari eats when there is an offer of “all-you-can-eat” at $25.(d)
What is the highest price we can charge for the “all-you-can-eat” special and still attract customers?Concept Introduction:
Consumer Surplus:
It is defined as the difference between consumer’s
It is defined as the difference between the amount a producer of a good receives and the minimum amount the producer is willing to accept for the good. It is the area below the price level and above the supply curve.
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Frederick Jones operates a sole proprietorship business in Trinidad and Tobago. His gross annual revenue in 2023 was $2,000,000. He wants to register for VAT, but he is unsure of what VAT entails, the requirements for registration and what he needs to do to ensure that he is fully compliant with VAT regulations. Make reference to the Vat Act of Trinidad and Tobago and explain to Mr. Jones what VAT entails, the requirements for registration and the requirements to be fully compliant with VAT regulations.
Can you show me the answers for parts a and b? Thanks.
What are the answers for parts a and b? Thanks
Chapter 4 Solutions
SAPLINGPLUS ACCESS MICRO 1 TERM
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