question and answer
September 3, 2020
You operate an internet firm selling used books and discover that the immediacy of the internet makes your industry perfectly competitive.
September 3, 2020

Question 31 

a)

nominal GDP per capita

b)

real GDP

c)

nominal GDP

d)

real GDP per capita

Question 59 

a)

too much of the good.

b)

zero output.

c)

too little of the good.

d)

a quantity equal to the efficient outcome, as market incentives can never be considered too strong.

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