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Author Question: Bananaland produces only bananas and sunscreen and the quantities and prices for 2012 and 2013 are ... (Read 64 times)

penguins

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on: Jun 29, 2018
Bananaland produces only bananas and sunscreen and the quantities and prices for 2012 and 2013 are given in the table above. The base year is 2012. Real GDP in 2012 is equal to
 
  A) 800.
  B) 640.
  C) 625.
  D) 500.
  E) 200.

Question 2

The quantity produced in a monopolistically competitive market is ________ than the quantity produced in a perfectly competitive market, and the price charged in a monopolistically competitive market is ________ than the price charged in a perfectly
 
  competitive market. A) higher; higher
  B) lower; higher
  C) higher; lower
  D) lower; lower


CourtneyCNorton

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Reply #1 on: Jun 29, 2018
Answer to Question 1

D

Answer to Question 2

B


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penguins

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Reply #2 on: Jun 29, 2018
Thank you :)


CourtneyCNorton

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Reply #3 on: Jun 29, 2018
Happy to help you


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