Answer the question on the basis of the provided demand and cost data for a pure monopolist. Demand Data Cost Data
Price Quantity Demanded Output Total Cost
$6.00 3 3 $5.00
5.60 4 4 6.00
5.20 5 5 6.50
4.80 6 6 7.50
4.40 7 7 9.00
4.00 8 8 11.00
3.60 9 9 14.00

The profit-maximizing price for the monopolist will be
4.80
5.20
4.40
5.60

1) u.s. real gdp is substantially higher today than it was 60 years ago. what does this tell us, and what does it not tell us, about the well-being of u.s. residents? what are the limitations of the gdp as a measure of economic well-being? given the limitations, why is gdp usually regarded as the best single measure of a society’s economic well-being? 2) what is an intermediate good? how does an intermediate good differ from a final good? explain why it is the case that the value of intermediate goods produced and sold during the year is not included directly as part of gdp, but the value of intermediate goods produced and not sold is included directly as part of gdp.

Sye chase started and operated a small family architectural firm in 2016. the firm was affected by two events: (1) chase provided $25,000 of services on account, and (2) he purchased $2,800 of supplies on account. there were $250 of supplies on hand as of december 31, 2016. record the two transactions in the accounts. record the required year-end adjusting entry to reflect the use of supplies and the required closing entries. post the entries in the t-accounts and prepare a post-closing trial balance.

Which of the following will not cause the consumption schedule to shift? a) a sharp increase in the amount of wealth held by households b) a change in consumer incomes c) the expectation of a recession d) a growing expectation that consumer durables will be in short supply