all of the following are included in GDP except:income earned for engineering services.income earned by an airline pilot.October 10, 2020
One view of the consumption function is that workers have high propensities to consume and capitalists have low propensities to consume.October 10, 2020
Can I get calculation step by step? Thank you!!!!!!!!
Consider a Dominant Firm-Competitive Fringe model with the following assumptions. There are100 ﬁrms that behave in a competitive manner and have identical cost functions given byc1(qf) = qﬁ/Z . The dominant firm has zero marginal costs. Total demand is given by QM(p) = 1000 — 50p .a. What is the supply curve of one of the competitive ﬁrms?b. What is the total supply curve of the competitive fringe firms? c. Compute the dominant firm’s proﬁt maximizing price?
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