For the monopoly shown in the figure above, the economic profit is

Define economic income. Give at least three examples

What will be an ideal response?

The best reason economists take only final goods and services into account when calculating GDP is that

A) this is the way things have always been done, but there is no particular reason why. B) they want to avoid the problem of final counting. C) they want to avoid the problem of double counting. D) this is the only way it can be done.