In order for a firm to be able to price discriminate it must not be a price taker, there must be different demand from different groups of consumers, and there must be an ability to prevent resale

Suppose that the total production of an economy consists of 10 oranges and 5 candy bars, each orange sells for $0.20, and each candy bar sells for $1.00. Which expression of the output of this economy is most consistent with the concept of GDP?

A. This economy produces two-thirds oranges and one-third candy bars. B. This economy produces food valued at $1.20. C. This economy produces $7.00 worth of food. D. This economy produces 15 food items.

Using Figure 1 above, if the aggregate demand curve shifts from AD3 to AD2 the result in the long run would be:

A. P1 and Y2. B. P2 and Y1. C. P3 and Y1. D. P3 and Y2.