2. Which of the following would NOT be counted in computing GDP?
a. building a do-it-yourself picnic table for your own yard
b. hamburgers you flip on your job at a fast-food restaurant
c. a pair of socks you sell on your job at a department store
d. all of the above
Answers: 1
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What is the sequence of events that could lead to trade surplus
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What business practice contributed most to andrew carnegie’s ability to form a monopoly?
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In the short-run, marginal costs are equal to the change in variable costs as output changes. ( mc = change in variable cost / change in quantity) assume that capital is fixed in the short-run. (a) start with the equation for marginal cost and derive an equation that relates marginal cost of production to the cost and productivity of labor. (b) draw a standard looking short-run marginal cost curve and use the equation you derived to explain its shape.
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2. Which of the following would NOT be counted in computing GDP?
a. building a do-it-yourself picni...
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