Answer:
The answer is: $150,000
Explanation:
The GDP includes all the final, finished and legal products produced in the country during a year.
The apples sold directly by the farmer to individual consumers and the apples the grocery store sells to households are both going to be included in the GDP.
The only apples not included in the GDP are the once sold to the company that produces apple juice, since they are intermediate goods and not finished goods.
Answer: the ability to produce a good at a lower opportunity cost than other producers
Explanation: In other to clearly understand or grasp the definition or meaning of comparative advantage, the term opportunity cost should be understood. Opportunity cost simply means the benefit which one forfeits or losses when one chooses a certain option over the other. Comparative advantage is possessed by a certain seller or economy who is capable of selling his goods at a lower opportunity cost than its competitors. Thus, the comparative advantages weighs the size or amount of benefit forfeited or lost by sellers as a result of selling at a lower price. Thus the lower the opportunity cost, the better the comparative advantage.
Answer:
Profit : $297,000
Explanation:
Revenue is the earnings generated by a business by selling products and services. Expenses are the cost incurred in the process of generating revenue for the business.
A business will make profits if revenue exceeds expenses.
In this case, the revenue ($895,000) exceeds expenses($598,000). Therefore, the business will make a profit.
The profit will be revenue minus expenses
=$895,000 -$598,000
=$297,000
Answer:
$15
Explanation:
The formula for calumniating compound interest is as below
A= P x ( 1 + r) ^1
For this case
A= Amount after one year
P = principal: $500
r= Interest rate 3% or 0.03
n = time in years: 1
A= $500 x ( 1 + 0.03) ^ 1
A = $500 x(1.03)
A= $500 x 1.03
A =$515
The interest missed is the future value - amount collected after one year.
=$515- $500
=$15
Allocative inefficiency due to unregulated monopoly is characterized by the condition: P>MC.
Allocative inefficiency happens whilst the purchaser does no longer pay a green price. A green charge is one that just covers the costs of manufacturing incurred in supplying the good or provider. Allocative efficiency occurs while the company's fee, P, equals the greater (marginal) cost of delivery, MC
Monopolies can boom fees above the marginal fee of manufacturing and are allocative inefficient. that is because monopolies have marketplace strength and may boom rate to reduce client surplus.
Allocative efficiency occurs while consumer demand is completely met by means of supply. In other words, organizations are presenting the precise supply that clients want. For an instance, a baker has 10 customers trying an iced doughnut. The baker had made exactly 10 that morning – that means there's an allocative performance.
Learn more about Allocative efficiency here:
brainly.com/question/14471969
#SPJ4
