Social insurance taxes are paid by wages and investment income

Suppose that at a given level of output, a perfectly competitive firm charges a price of $12 and has average total costs of $10 . If its economic profit is $20,000 . then it must be producing:

a. 40,000 units of output. b. 20,000 units of output. c. 30,000 units of output. d. 10,000 units of output. e. 50,000 units of output.

Goods and services that are consumed by the ultimate user are called ________ goods and services.

A. nominal B. value added C. final D. intermediate