Answer the Questions Below

question 152

Essay

Answer the questions below:
(A) If a parent has to talse the afternoan aff fram wark to pick up his ar her chicren fram school and transport them to a frend's house, what happens to GDP?
(B) If the parent hires a nanny to pick the children upand transpart then to a friend's house, what will happen to GDP?
(C) Are yaur answers to (A) and (B) the same? Eoglain.

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Definitions:

Natural Monopoly

A market condition where due to high fixed or start-up costs, the most efficient number of firms in the industry is one.

Electric Power

The production and delivery of electricity through an interconnected network for uses such as lighting, heating, and powering appliances.

New Technology

The development and application of innovative tools, machines, techniques, and methods that improve the efficiency and productivity of operations.

Natural Monopolies

Industries where a single firm can supply a good or service to an entire market at a lower cost than two or more firms could, often due to economies of scale.