You work for the Committee for Economic Evaluation in the small nation of Kinsdale. Your current job is to determine the country's gross domestic product in the past year. Being a very small country, the people only produce three things, which are listed in the table below. Good Bananas Hiking boots Roses Quantity produced in the past year 42,000 10,000 10,000 Price $1.50 $15 $4.00 Based on the data in the table, what is the GDP for Kinsdale?

You work for the Committee for Economic Evaluation in the small nation of Kinsdale. Your current job is to determine the country's gross domestic product in the past year. Being a very small country, the people only produce three things, which are listed in the table below. Good Bananas Hiking boots Roses Quantity produced in the past year 42,000 10,000 10,000 Price $1.50 $15 $4.00 Based on the data in the table, what is the GDP for Kinsdale?

Managerial Economics: Applications, Strategies and Tactics (MindTap Course List)

14th Edition

ISBN:9781305506381

Author:James R. McGuigan, R. Charles Moyer, Frederick H.deB. Harris

Publisher:James R. McGuigan, R. Charles Moyer, Frederick H.deB. Harris

Chapter17: Long-term Investment Analysis

Section: Chapter Questions

Problem 2.4CE

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