Calculate the basket price

Assignment Help Microeconomics
Reference no: EM133274044

Below is the price information for creating a fruit basket during the year 2000 and 2020.

In year 2000: 3 apples cost $1.5; 2 pears cost $2; 4 bananas cost $0.98; 1 coconut costs $1.2

In year 2020: 3 apples cost $2.5; 2 pears cost $2.5; 4 bananas cost $1.5; 1 coconut costs $2

3a. pleaes calculate the basket price for both year 2000 and 2020

3b. please calculate the rate of inflation between year 2020 and 2000 using year 2000 as the base year

Reference no: EM133274044

Questions Cloud

Project leadership about monitoring : How does the IT project leadership go about monitoring and analyzing for failure so that it can be stopped in its tracks or prevented from reoccurring?
Interdisciplinary-immersive and innovative policy : Mental Health and Mental Disorders is public health concern that pertains to Healthy People 2030's focus (Social Determinants of Health and Health Literacy
Percentage of risk event reports : What type of reporting format would you use to display the following and mention the reason
Market equilibrium price and quantity in the short run : Consider the market for lumber (an important input for the construction of housing). For each of the following events, explain the effect on the demand curve fo
Calculate the basket price : Below is the price information for creating a fruit basket during the year 2000 and 2020.
Estimate the chance of heavy rainfall : In planning farm operations for the current year, a farmer can choose from two crops, A and B. The profits (in dollars) of the crops depend on the amount of rai
European expansion since 1763 : Chapter by Harry Magdoff on "European Expansion since 1763." Based on the reading, brief essay explaining the changing character of imperialism since the mid-ei
Maintain harmony profits constant : Harmony is a South African mining company that exports 25 ounces of gold to the US. Gold is priced in US dollars but Harmony's workers are paid in rand (the cur
What should manufacturers do to alleviate consequences : In 1908 Henry Ford produced the first affordable automobile (Model T) using his assembly line method. At the time, the assembly line was a new and emerging tech

Reviews

Write a Review

Microeconomics Questions & Answers

  How producers in market affect chances of forming workable

How does the number of producers in a market affect the chances of forming a workable cartel?

  You are the manager of global opportunities for a us

you are the manager of global opportunities for a u.s. manufacturer who is considering expanding sales into europe.

  Effects of unemployment and policing

A criminologist is interested in the effects of unemployment and policing on murder and has run the following multiple regression:

  Describe how one of these solutions operates and

Describe, using diagrams where appropriate, the market for rental accommodation before and after the introduction of rent controls. Illustrate the surpluses accumulating to producers and consumers before and after the introduction of the price ceilin..

  Estimate the regression model using the ols estimator

Estimate the regression model (E) using the OLS estimator and provide a summary report of the result (i.e., the estimated equation with the standard errors and/or t-ratios with other relevant statistics).

  Short run firm supply curve

Each of the following situations could exist for a perfectly competitive firm in the short run. In each case, indicate whether the firm should produce

  Development game “settlers of catan”

Read the rules of the game, the overview and the almanac for the Development Game "Settlers of Catan"

  What should be the value of the tax

Companies that produce toilet paper bleach the paper to make it white. Some paper plants discharge the bleach into rivers and lakes, causing substantial environmental damage. Suppose the following graph illustrates the situation in the toilet pape..

  Currently considering two alternative education-work options

John lives for three periods. He is currently considering two alternative education-work options. Alternative 1: he can start working immediately, earning $100,000 in period 1, $110,000 in period 2, and $120,000 in period 3.

  Discuss the us bilateral trade with a country

Discuss the US bilateral trade with a country from Africa or South America for the period 1991 to 2010 (you may use a different range of 20 years like 1995-2014).

  Is intel a monopoly in the chip market

Antitrust Inquiry Launched into Intel Intel, the world's largest chipmaker, holds 80 percent of the microprocessor market. Advanced Micro Devices complains.

  Explain what the rate of money growth should equal

It is sometimes suggested that the federal reserve should try to achieve zero inflation. If we assume that velocity is constant, does this zero-inflation goal require that the rate of money growth equal zero

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd