Which of the following would be counted as a final good for GDP?

a. a used truck
b. lumber for construction
c. steel for manufacturing
d. a new house

d. a new house

Economics

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Suppose Acme and Mega produce and sell identical products and face zero marginal and average cost. Below is the market demand curve for their product. Suppose Acme and Mega decide to collude and work together as a monopolist with each firm producing half the quantity demanded by the market at the monopoly price. If Mega cheats on the agreement by reducing its price to $1 while Acme continues to comply with the collusive agreement, then Mega's economic profit will be ________.

A. $200 B. $150 C. $100 D. $75

Economics

Refer to the graph shown that depicts a third-party payer market for prescription drugs. What happens to expenditures by consumers in this market if a $2 co-pay is established compared to a free-market equilibrium?

A. Expenditures rise by $90 B. Expenditures remain at $150 C. Expenditures fall by $120 D. Expenditures fall by $30

Economics