GDP include the value of final goods , to avoid double counting intermediate goods are not included in GDP
Answer:
c.
6.1 percentage points.
Explanation:
Ratio shows proportion of a number to other number or sum of all the numbers. Percentage is a ratio which is expressed as fraction of 100.
Human Life Worth = $9 million = $9,000,000
Spending on Fighting initiative = $550,000
Take ratio of spending by the worth of human life
Ratio = Spending / Worth = $550,000 / $9,000,000 = 0.061 = 6.1%
It reduces the risk of someone dying from crime by at least 6.1%.
Answer:
average cost is increasing
Explanation:
Answer:
perfect competition; equal to $15
Explanation:
A Perfect competition industry is characterised by :
1. Firms that are price takers - They do not set price but prices are set by the forces of demand and supply.
2. Prices are equal to marginal revenue and average revenue.
3. plenty buyers and sellers.
4 free entry and exist of firms.
A monopolistic industry is chartcerised by :
1. Firms that are price makers.
2. Plenty buyers and sellers.
3. Price and average revenue are less than the marginal revenue
A monopoly is characterised by :
1. Firms that are price makers.
2. One seller
3. Price and average revenue are less than the marginal revenue
