Measuring total production by valuing items at their market value allows us to
A) separate the value of different goods with identical prices.
B) separate the value of different goods with different prices.
C) add together the value of different goods that have different prices.
D) add together the value of identical goods that have identical prices.
E) ignore the problem that goods and services differ in how long they last.
C
Economics
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Suppose Bev's Bags makes large handbags and small handbags. They sold 70,000 large bags for $45 each and 25,000 small bags for $15 each. What was the total revenue for this company?
A. $2,850,000 B. $375,000 C. $3,525,000 D. $3,150,000
Economics
Let demand be given by P = 10 - Q; let supply be given by P = Q. What is the equilibrium quantity?
A. 2 B. 10 C. 5 D. 4
Economics