Before the breakup of AT&T several years ago, profits on long-distance calls offset losses on basic residential service. This practice is known as

Which adjustment(s) must be made to convert net domestic product to GDP? i. add indirect taxes ii. subtract subsidies iii. add depreciation

A) i and iii only B) i, ii and iii C) ii only D) iii only E) i and ii

If a customer values good A at $15, and it costs the firm $10 to produce, current profit per unit is

a. $10 b. $8 c. $5 d. $1