Answer:
Real GDP in 2012 is $92
GDP in 1990 is $51
GDP in 2012 is $86
Explanation:
In this question, we apply the produced goods amount formula which is
= Price × Quantity produced
For Real GDP in 2012, the computation is
= (1990 Papaya price × Quantity produced in 2012) + (1990 fish price × Quantity produced in 2012) + (1990 skirts price × Quantity produced in 2012)
= ($1 × 20) + ($0.60 × 20) + ($4 × $15)
= 20 + 12 + 60
= $92
GDP in 1990 is
= (1990 Papaya price × Quantity produced in 1990) + (1990 fish price × Quantity produced in 1990) + (1990 skirts price × Quantity produced in 1990)
= ($1 × 10) + ($0.60 × 15) + ($4 × 8)
= 10 + 9 + 32
= $51
GDP in 2012 is
= (2012 Papaya price × Quantity produced in 2012) + (2012 fish price × Quantity produced in 2012) + (2012 skirts price × Quantity produced in 2012)
= ($0.50 × 20) + ($0.80 × 20) + ($4 × 15)
= 10 + 16 + 60
= $86
Answer:
Food Drug and Cosmetic Act
Explanation:
The new line of fairness-enhancing products marketed by Radiance has allegedly been developed after using large-scale animal testing procedures. Insiders revealed that the high levels of lead present in the cosmetics were in fact fatal for many of the animals. Radiance is likely to be inspected for suspected criminal violations of the Food Drug and Cosmetic Act.
Food Drug and Cosmetic Act is a law passed by congress in the United States which regulates the use of food, drugs and cosmetics; in relation to how safe they are for use by consumers.
In the case of Radiance, the scenario reports ''that the high levels of lead present in the cosmetics were in fact fatal for many of the animals'', implying that the products are not safe for use.
Answer: Option B
Explanation: Monopolistically competitive structure refers to a market structure depicting a combination of monopoly and perfect competition. In such markets there are large number of small sellers but due to minor differences in product, different firms can charge different prices.
In the given case, also different restaurants are charging different prices due to their different service offerings.
Thus, from the above we can conclude that the restaurant best illustrates monopolistically competitive structure.
Though I have no experience in business, I would say it is True.