Question
a simple economy entirely driven by trucks. Billys trucks is the only firm in the economy. Suppose in Q3 of 2020, Billys sold 1,000 trucks
a simple economy entirely driven by trucks. Billys trucks is the only firm in the economy. Suppose in Q3 of 2020, Billys sold 1,000 trucks at a price of $20 each. Input costs for each moped were $15 each. In Q4, total GDP in the truck economy grew at the same annualized rate as the 2020 Q4 growth rate of the US economy. Approximately how many trucks did billy sell in Q4?
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Managerial Economics and Business Strategy
Authors: Michael Baye, Jeff Prince
9th edition
9781259896422, 1259290611, 1259896420, 978-1259290619
