The underground economy a. includes otherwise legal transactions that go unreported or unrecorded. b. is larger for developed nations than developing nations when measured as a percent of gdp. c. excludes the amount of criminal activity in an economy. d. in the united states is insignificant is size when compared to the official measure of gdp.

Until recently, hamburgers at the city sports arena cost $4.70 each. the food concessionaire sold an average of 13 comma 000 hamburgers on game night. when the price was raised to $5.40, hamburger sales dropped off to an average of 6 comma 000 per night. (a) assuming a linear demand curve, find the price of a hamburger that will maximize the nightly hamburger revenue. (b) if the concessionaire had fixed costs of $1 comma 500 per night and the variable cost is $0.60 per hamburger, find the price of a hamburger that will maximize the nightly hamburger profit.