Illustrate what is the gdp of georges

Assignment Help Business Economics
Reference no: EM1320163

Q. George also John, stranded on an island, utilize clamshells for money. Last year George caught 300 fish also 5 wild boars. John grew 200 bunches of bananas. In the 2-person economy that George also John set up, fish sell for 1 clamshell each, boars sell for 10 clamshells each also bananas go for 5 clamshells a bunch. George paid John a total of 30 clamshells for helping him to dig bait for fishing also he also purchased five of John's mature banana trees for 30 clamshells each. Illustrate what is the GDP of George's also John's island in terms of clamshells?

Reference no: EM1320163


Write a Review


Business Economics Questions & Answers

  Its marginal costs are below total average costs

its marginal costs are below total average costs. If it creates an additional watch where its average total costs rise -fall or stay the same.

  Imagine sam discovers a new production technique

Sam sells shavers also Alvin sells after cut off. Imagine Sam discovers a new production technique that lowers his costs of production.

  Fixed provide among different products

Firms often face the problem of allocating an input in fixed provide among different products.

  Forestry products account for nearly three percent

Forestry products account for nearly 3 percent (%) of Canada's GDP also 14.1 percent of its exports.

  Brewery is considering two potential production

A brewery is considering two potential production investments.

  Residential rental property

A residential rental property is acquired during the first month of the taxable year, at a total cost (including transaction costs) of $1,200,000.

  Buds package store in a small college town

Bud has very limited store space and has decided to limit his product line to one brand of beer, choosing to forego the snack food lines that normally accompany his business.

  Comparative advantage in bioinformatics in manufacturing

Why might the U.S. have a comparative advantage in bioinformatics but not in manufacturing and steel making.

  Changes in parameter values

Prepare a table with values from all four cases as well as compare the sensitivity of the model solution to changes in parameter values.

  Inflation expectations in korea compared to the us

Elucidate what does this indicate concerning inflation expectations in Korea compared to the US.

  Government would have to do to keep the unemployment

Give reasons to elucidate what the government would have to do to keep the unemployment rate at 3 percent.

  Cartel to maximize total industry profits

Assume that the firms form a cartel to maximize total industry profits. Determine the optimum output as well as selling cost for each firm.

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd