Refer to the above table. If an economy's current per capita real GDP is $3,000, and if its economy grows at an constant annual rate of 5 percent for 50 years, what will be its per capita real GDP at the end of that period?

Both monopolistically competitive firms and perfectly competitive firms maximize profits

A) by producing where price equals average total cost. B) by producing where price equals average variable cost. C) by producing where marginal revenue equals marginal cost. D) by producing where marginal revenue equals average revenue.

Gresham's Law:

a. applies only to bimetalism issues. b. applies only to monetary issues in general. c. applies to a wide variety of situations. d. is only understood after taking graduate-level courses.