There are three firms in an economy: a, b, and c. firm a buys $250 worth of goods from firm b and $200 worth of goods from firm c, and produces 200 units of output, which it sells at $5 per unit. firm b buys $100 worth of goods from firm a and $150 worth of goods from firm c, and produces 300 units of output, which it sells at $7 per unit. firm c buys $50 worth of goods from firm a and nothing from firm b. it produces output worth $1,000. all other products are sold to consumers. instructions: enter your responses as whole numbers. a. calculate gdp. $ 3350 3350 correct b. if a value-added tax (a tax on the total value added by each firm) of 10 percent is introduced, how much revenue will the government get? $ not attempted c. how much would government get if it introduced a 10 percent income tax? $ not attempted d. how much would government get if it introduced a 10 percent sales tax on final output?

Answer the following questions with true or false and provide a brief explanation (2- 3 sentences) a) economies of scale in production give rise to multi-product firms. b) ace hardware corporation is an example of economies of scale in production.

Theodore is researching computer programming he thinks that this career has a great employment outlook so he’d like to learn if it’s a career in which he would excel what to skills are important for him to have and becoming a successful computer programmer

Consider the following scenarios. use what you have learned to decide if the goods and services being provided are individual, public, or merit goods. for each case, state what kind of good has been described and explain your answer using the definitions of individual, public, and merit goods. (6 points each) 1. from your window, you can see a city block that's on fire. you watch city firefighters rescue people and battle the flames to save the buildings. 2. while visiting relatives, you learn that your cousins attend a nearby elementary school that is supported financially by local property tax revenue. 3. you see a squadron of military jets flying overhead. 4. you find out that your aunt works for a defense manufacturing company that has several defense contracts with the government. she tells you that she works for a team that is producing a communications satellite. 5. your class visits a local jail run by a private, profit-making company that detains county criminals and is paid with tax revenue.