"Internal economies" derive from all of the following except
(a) Division of labor
(b) Production of standardized products
(c) The use of mass production techniques
(d) There is no "except"; all of the above apply
(d)
Economics
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At $30 each, Jack will buy 1 Blu-ray and at $25, he will purchase 2 . If the price is $20, Jack's consumer surplus is:
a. $10. b. $15. c. $20. d. $25.
Economics
Jason and Julie are gardeners. Jason grows corn and Julie grows tomatoes. Every week they trade: Jason gives Julie a bushel of corn in exchange for half a bushel of tomatoes. Is Jason's bushel of corn counted as part of GDP? How would your answer change if Julie bought Jason's corn for $10 at the local farmers' market?
Economics