The only Giffen goods that have been identified so far in the real world are luxury goods
Indicate whether the statement is true or false
FALSE
Economics
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Suppose Chris is a potter who makes mugs. His total costs depend on the number of mugs he makes each day, as shown in the table below.Number ofMugs Per DayTotal CostPer Day0$101$142$193$254$325$406$49The marginal cost if the 4th mug per day is ________.
A. $7 B. $5 C. $8 D. $32
Economics
The value of goods produced, but unsold, in the current period is:
A. allocated to GDP in future periods when the goods are sold. B. counted in GDP as inventory investment. C. counted in GDP as consumption spending. D. excluded from GDP.
Economics