Author Question: Bananaland produces only bananas and sunscreen and the quantities and prices for 2012 and 2013 are ... (Read 39 times)

penguins

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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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Answer to Question 1

D

Answer to Question 2

B



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