The gross domestic product for the above economy is:

A problem with using the price of a product similar to the intermediate good sold on the market is

a. the market price includes a margin above marginal cost b. the product on the market may include costly features your downstream division does not use c. the product on the market may be cheap because it is not as high of quality as your downstream division uses d. all of the above

According to the graph shown, if the economy is operating in autarky and decides to open trade with a tariff, the impact on domestic demand is they will:

This graph demonstrates the domestic demand and supply for a good, as well as a tariff and the world price for that good.

A. decrease consumption from 1500 to 1150.
B. increase consumption from 815 to 1500.
C. increase consumption from 815 to 1150.
D. decrease consumption from 1500 to 815.