Calculate a country's GDP if for the year, consumer spending is $900 million, government spending is $250 million, investment by businesses is $180 million, exports are $85 million and imports are $100 million.
A manufacturer faces a -1.2 price elasticity of demand for its product. It is presently selling 7,500 units/day. If it wants to increase quantity sold by 9%, it must lower its price by
If the average total cost are Rs 54, total fixed cost is Rs 45000 and quantity produced is 2500 units, find the average variable costs (in Rs) of the firm?