Table 21.2Output (units per day)0102030Total cost (dollars per day)$40$54$62$80For the output levels in Table 21.2, the minimum of the average variable cost curve occurs at a production rate of

Explain intuitively why the market for a nonexcludable good fails to provide an efficient quantity.

What will be an ideal response?

Why might a homemaker be upset with the way Gross Domestic Product (GDP) is calculated?

A. because household services produced at home and outside the market are only included in Gross Domestic Product (GDP) if the homemaker is a man B. because household services produced at home and outside the market that are sold to others are not included in Gross Domestic Product (GDP) C. because none of the household services produced for at home and outside the market are included in Gross Domestic Product (GDP) even though they contribute greatly to the welfare of the family D. because the government always underestimates the dollar value of the household services produced at home and outside the market that are included in the Gross Domestic Product (GDP) statistic