Katniss works for the Panem Bureau of Economic Analysis. Panem produces three goods: bread and axes, as well as wheat, which is Ised to make bread. The table below records the quantities and market prices of each good produced in 2020. Good produced Market price (in dollars) Quantity bread 6,500.00 loaves 4.00 wheat 1,625.00 bushels 2. axes 550.00 axes 60.00 Assuming Panem does not produce anything else in 2020, GDP is equal to $ 6230
Katniss works for the Panem Bureau of Economic Analysis. Panem produces three goods: bread and axes, as well as wheat, which is Ised to make bread. The table below records the quantities and market prices of each good produced in 2020. Good produced Market price (in dollars) Quantity bread 6,500.00 loaves 4.00 wheat 1,625.00 bushels 2. axes 550.00 axes 60.00 Assuming Panem does not produce anything else in 2020, GDP is equal to $ 6230
Microeconomics: Private and Public Choice (MindTap Course List)
16th Edition
ISBN:9781305506893
Author:James D. Gwartney, Richard L. Stroup, Russell S. Sobel, David A. Macpherson
Publisher:James D. Gwartney, Richard L. Stroup, Russell S. Sobel, David A. Macpherson
Chapter9: Price Takers And The Competitive Process
Section: Chapter Questions
Problem 14CQ
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