How do pollution and crime affect GDP?
Pollution and crime are entirely left out of GDP calculations, even though they impact our well-being. Expenditures on crime and pollution control, however, do add to economic output and GDP.
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Three hundred paper mills compete in the paper market. The total cost of production (in dollars) for each mill is given by the formula TC = 1,000Qmill + (Qmill)2, where Qmill indicates the mills annual production in thousands of tons. The marginal external cost of a mill's production (in dollars) is given by the formula MEC = 200 + 2Qmill. Finally, annual market demand (in thousands of tons) is given by the formula Qd = 200,000 - 100P. Which of the following gives the market supply curve?
A. Qs = 200,000 - 100P B. Qs = 0.5P - 500 C. Qs = 150P - 150,000 D. Qs = 150P - 30,000
What is the average cost per unit for producing 3 units? a. 200. b. 260. c. 70
d. 110.
YearCPI2010952011100201210520131042014106According to the table shown, what happened to the cost of living from 2013 to 2014? The cost of living:
A. increased; consumers became better off than they would have been if the price level had not changed. B. increased; consumers became worse off than they would have been if the price level had not changed. C. decreased; consumers became better off than they would have been if the price level had not changed. D. decreased; consumers became worse off than they would have been if the price level had not changed.
What is the maximum amount of good Y that can be purchased if X and Y are the only two goods available for purchase and Px = $10, Py = $20, X = 0, and M = 400?
A. 5 B. 0 C. 20 D. 10