Suppose that a car was produced but not sold in 2013. The car could still be sold in 2014. According to the book, the car would be counted as part of:
A. 2013 GDP as investment.
B. 2014 GDP, as consumption.
C. 2014 GDP as investment.
D. neither 2013 or 2014 GDP.
Ans: A. 2013 GDP as investment.
Economics
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Firms in a monopolistically competitive industry maximize profits by
a. equating total revenue and total cost b. treating price as given and maximizing output c. minimizing costs d. producing the level of output at which MR = MC e. producing the level of output at which TR = TC
Economics
Number of FigsVCMCAVCFCTCATC0???100??19090????2?????1353??80???4????400?Table 8.4Table 8.4 presents the cost schedule for David's Figs. If David produces three figs, David's total variable costs are:
A. $0. B. $41.67. C. $80. D. $240.
Economics