Producers were paid for meeting output targets

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Q1. The firm is considering discount in a quantity. The 1st 400units can be purchased at a price of $120 also further units can be purchased at a price of $80. Elucidate how many units will the consumer buy in total?

Q2. In the former Soviet Union, producers were paid for meeting output targets, not for selling products. Under those circumstances, illustrate what were the economic incentives for producers?

Q3. If a coffee store purchases 50 cents worth of coffee also spends 15 cents on wages every cup of coffee to produce a 75-cent cup of coffee, that firm's contribution to GDP.

Reference no: EM1311954

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