Refer to the Following Table to Answer the Following Questions

question 22

Multiple Choice

Refer to the following table to answer the following questions:

-Kenneth is the only provider of bottled water for three cities.Because he has access to a natural spring,the marginal cost to produce an additional bottle is $0.If he could price discriminate by charging a different price in each city,how many more people would have access to bottled water compared to when he charges only one price for all three cities?

• A) one more person
• B) two more people
• C) three more people
• D) four more people
• E) exactly the same number of people

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Definitions:

GDP

Gross Domestic Product is the total value, either in market or monetary terms, of all the consumable goods and services produced within a country's area in a determined period.

Real GDP

Real GDP refers to the total economic output of a country, adjusted for price changes or inflation, representing the actual value of goods and services produced over a specific period.

GDP

Summarizing the value of all final goods and services made within a country's borders in monetary or market terms during a specific time frame is what Gross Domestic Product is about.

GDP Deflator

A metric that assesses the prices of all new, internally produced final goods and services in an economic system, employed in the adjustment of nominal GDP to real GDP.