Refer to Table 19-13. Real GDP for Vicuna for 2013 using 2015 as the base year equals
A) 4,620. B) 5,100. C) 5,650. D) 5,850.
Question 2
A firm using a two-part tariff can produce the economically efficient outcome by
A) making the fixed-fee portion of the price as low as possible.
B) setting the fixed-fee portion of the price at some proportion to the fixed cost of production.
C) setting the per-unit portion of the price equal to the average cost of production.
D) setting the per-unit portion of the price equal to the marginal cost of production.