Unit 2 A1: Calculation of GDP – Sweatshirts/Guns Butter Examples Product Quantity Price Sweatshirts 50 $35.00 Dental exams 40 $75.00 Coffee drinks…
September 3, 2020
Firm A in Industry A has marginal cost of production equal to $150 and experience has shown Firm A that their Lerner index is 0.
September 3, 2020

whats the answer to number 38

Recently Apple Computer developed Apple’s new iTunes Music Store, which offers more than 200,000 songs from five major record labels, for use with Apple’s iPod and iMac. Apple fans have gone gaga. More than a million songs were downloaded the first week alone! In economic terms, CEO Steve Jobs helped convert capital and labor inputs into products consumers use. Any activity that results in the conversion of resources into products that can be used in consumption is A) not profitable. B) demand. C) a start up venture. D) production.

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