Use the above figure. The profit-maximizing output will be

A firm purchases $600,000 worth of raw materials and pays wages and salaries of $100,000 and dividends of $200,000 . If the firm sells its output for $1 million, the firm's value added to GDP is

a. $300,000. b. $400,000. c. $900,000. d. $1,000,000.

Exhibit 1A-10 Multi-curve graph Exhibit 1A-10 represents a three-variable relationship. As the annual income of consumers rises from $20,000 (line A) to $40,000 (line B), the result is a:

A. rightward movement along each curve. B. leftward movement along each curve. C. leftward shift from curve B to curve A. D. rightward shift from curve A to curve B.