Homework Help: economics help!!!

Posted by shelby on Tuesday, September 26, 2006 at 10:21pm.

5.1998 Price Quantity
cauliflower $200 100
broccoli $ 75 50
carrots $ 50 500
Total $325

Weight of each good
weight for cauliflower 200/325= 0.61532
weight for broccoli 75/325= 0.2307692
weight for carrots 50/325=0.1538461

Prices in the base year
cauliflower 200/100=$2
broccoli 75/50=$1.5
carrots 50/500=$0.1

1999 Price Quantity
cauliflower $225 75
broccoli $120 80
carrots $100 500
Total $445

Weight of each good
weight for cauliflower 225/445=0.5056179
weight for broccoli 120/445=0.2696629
weight for carrots 100/445=0.2247191
Prices in the base year
Cauliflower 225/75=$3
broccoli 120/80=$1.5
carrots 100/500=$0.2

Percentage change in price
Cauliflower $2 to $3 50% increase
Broccoli $1.5 to $1.5 0% change
Carrots $0.1 to $0.2 0.5% increase
ARE THESE PERCENTAGE CHANGE IN PRICE CORRECT???

They look good to me except for the last one...is it 0.1 to 0.2 equal to 0.5% increase or 100% increase...hmmm

No one has answered this question yet.

Answer this Question

Related Questions

macro economics - Suppose that the residents of Veggieland spend all of their ...
Macro economics - Suppose that the residents of Veggieland spend all of their ...
economics - Suppose that the residents of Veggieland spend all of their income ...
economics - Suppose that the resident of vegopia spend all of their income on ...
Economics - Suppose that the residents of Vegopia spend all of their income on ...
economics - 5.1998 Price Quantity cauliflower $200
SETS AND COUNTING - In a survey of 289 college students, it is found that 65 ...
economics - The table provides data on the demand for and the supply of eggs in ...
microeconomics - 1. Suppose that an increase in the price of carrots from $1.20 ...
maths - Could you please help? Thank you. Karen goes to the fruit shop and buys ...

For Further Reading

First Name:
School Subject:
Answer: