Amazon has a \"Lightning Deal\" where it slashes the price of one item. At 3:15 PM today, they announced that the item was a new tablet with a sales price of $150, less than half the original price. The table below contains the maximum willingness to pay for five college students wanting to buy a tablet on Amazon.

students willing to pay
Amanda $500
David $400
Lily $300
Anthony $200
Julio $100
1. What is total consumer surplus for the five students?
2. If the price increases from $150 to $350, what is the change in total consumer surplus? Pay attention to the direction of change.

Why is it easier for new entrants to get involved in radical innovations when compared to incumbent firms? a. unlike incumbent firms, new entrants do not have to face the high entry barriers, initially. b. new entrants are embedded in an innovation ecosystem, while incumbent firms are not. c. unlike incumbent firms, new entrants do not have formal organizational structures and processes. d. incumbent firms do not have the advantages of network effects that new entrants have.

How much more output does the $18 trillion u.s. economy produce when gdp increases by 3.0 percen?

Speedy auto repairs uses a job-order costing system. the company’s direct materials consist of replacement parts installed in customer vehicles, and its direct labor consists of the mechanics’ hourly wages. speedy’s overhead costs include various items, such as the shop manager’s salary, depreciation of equipment, utilities, insurance, and magazine subscriptions and refreshments for the waiting room. the company applies all of its overhead costs to jobs based on direct labor-hours. at the beginning of the year, it made the following estimates: direct labor-hours required to support estimated output 20,000 fixed overhead cost $ 350,000 variable overhead cost per direct labor-hour $ 1.00 required: 1. compute the predetermined overhead rate. 2. during the year, mr. wilkes brought in his vehicle to replace his brakes, spark plugs, and tires. the following information was available with respect to his job: direct materials $ 590 direct labor cost $ 109 direct labor-hours used 6