Suppose that nominal gdp was $925.00 in 2005 in fairfax county virginia. in 2015, nominal gdp was $1175.00 in fairfax county virginia. the price level rose 1.50% between 2005 and 2015, and population growth was 3.25%. calculate the following figures for fairfax county virginia between 2005 and 2015.1.nominal gdp growth was2. economic growth was3. inflation was4. real gdp growth was5. per capita gdp growth was6. real per capita gdp growth was

You are the owner of a local honda dealership. unlike other dealerships in the area, you take pride in your “no haggle” sales policy. last year, your dealership earned record profits of $1.5 million. however, according to the local chamber of commerce, your earnings were 10 percent less than either of your competitors. in your market, the price elasticity of demand for midsized honda automobiles is 4.5. in each of the last five years, your dealership has sold more midsized automobiles than any other honda dealership in the nation. this entitled your dealership to an additional 30 percent off the manufacturer’s suggested retail price (msrp) in each year. taking this into account, your marginal cost of a midsized automobile is $11,000. what price should you charge for a midsized automobile if you expect to maintain your record sales?