5. a) Assuming the following were the only goods and services purchased in an economy in a year, what is GDP? ETE Product Quantity Price Apples 100 $0.50 Shirts 30 $10.00 Haircuts 20 $3.00 b) Suppose nominal GDP is $14 trillion and the GDP deflator is 122.5. Given this information, what is real GDP?

Q: c. How much total consumer surplus will each of them receive at a price of $32?

A: Last parts C and d are answered below:

Q: i need g to h

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Q: hey i was doing my homework and i couldnt figure out the last question

A: Average total cost is the per unit cost incurred in producing a commodity.

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A: Our lives are constrained by the choices we make. Despite the fact that there are factors that we…

Q: Where did the $98 come from?

A: Deadweight loss can be described as the loss of total welfare or the social surplus because of…

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A: The mechanism by which a person or a company decides the course of action to take is referred to as…

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A: Answer: (1). Quantity demanded is how much of a product or service people are willing to buy at a…

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A: Ariel's opportunity cost for 1 book 2/3=0.67 problem set.So Ariel will accept price when her…

Q: I have enough money to buy five regular priced CDs and $6 left over. However, all CDs are on sale…

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Q: What makes housing and housing markets unique compared to other goods?

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Q: blanks

A:

Q: What are the two kinds of Indian budget?

A: Introduction - The French word "bougettee," from which the English word "budget" is derived, refers…

Q: Explain the purpose of creating a budget?

A: A budget is a financial plan or framework that outlines an individual's or organization's expected…

Q: What is a budget and why is budgeting important?

A: A budget is a financial plan that outlines an individual's or organization's expected income and…

Q: What are the two things consumers can do with income?

A: Income is the financial gain earned during a particular period of time.

Q: How MR is calculated.

A: Below is the formula that can be used to calculate the MR: MR = dTRdQ Here, MR  = Marginal Revenue…

Q: Show working out and answer to h?

A: In this case, revenue generation of Tesco is given here. We have to show the evenly distributed…

Q: How do you determine a budget for personal consumption?

A: A monthly budget is a structured financial planning tool that assists you in determining how much…