In an iron and steel plant with 4 blast furnaces, 40 laborers produce 160 tons of pig iron every day. The labor productivity in the firm is equal to _____

Neither intermediate goods nor used goods are included in GDP. Explain why these expenditures are not included in GDP

What will be an ideal response?

Given the total cost and total revenue curves in the above figure, what are the output levels at which the perfect competitor will incur economic losses?

A) below 80,000 bushels B) from 30,000 to 80,000 bushels C) below 30,000 bushels and over 80,000 bushels D) at 30,000 bushels and at 80,000 bushels