# economics help!!!

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

1. 👍
2. 👎
3. 👁

## Similar Questions

1. ### Economics

An industry currently has 100 firms, all of which have fixed costs of \$16 and avg. variable cost as follows: Q Avg. Variable Cost (\$) 1 1 2 2 3 3 4 4 5 5 6 6 a. Compute marginal cost and avg. total cost. b. the price is \$10. what

2. ### Management

2. In its first year, “ABOL BUNA” Company had the following experience. Sales = 25,000 units Selling price = Birr 100 Total variable cost = Birr 1,500,000 TFC = Birr 350,000 Required: a) Develop revenues, cost, and profit

3. ### mathematics

2. In its first year, “Abol Buna Co” had the following experience Sales = 25,000 units Selling price = br. 100 TVC = br. 1,500,000 TFC = br. 350,000 Required: 1. Develop Revenue, cost & profit functions for the co. in terms of

4. ### Math

answer in the box. The Students' Union need to order some pens and notebooks. How much does it cost to order 1000 pens and 2000 notebooks? \$ Cost Effective Pen Quantity 100 250 500 1000 2500 5000 Price per pen (cents) 80c 72c 66c

1. ### Macroeconomics

As an example of a price index, consider the A.C.D.P.I. (a fictitious price index). The associated basket of goods is: Good Price Coffee \$8/lb. Bread \$1/loaf Tea \$15/lb. Aspirin \$2/bottle Cola \$6/case A. If the price of coffee

2. ### Economics

Suppose that the residents of Vegopia spend all of their income on cauliflower, broccoli, and carrots. In 2006 they buy 100 heads of cauliflower for \$200, 50 bunches of broccoli for \$75, and 500 carrots for \$50. In 2007, they buy

3. ### Economics

Beachfront resorts have inelastic supply, and automobiles have an elastic supply. Suppose that a rise in population doubles the demand for both products (that is, the quantity demanded at each price is twice what it was). a. What

4. ### economics

The following information applies to the market for a particular items in the absence of a unit excise tax: Price(\$ per unit) Quantity Supplied Quantity Demanded 4 50 200 5 75 175 6 100 150 7 125 125 8 150 100 9 175 75 According

1. ### Economics

You’ve been hired by an unprofitable firm to determine whether it should shut down its unprofitable operation. The firm currently uses 70 workers to produce 300 units of output per day. The daily wage (per worker) is \$100, and

2. ### microeconomics

1. Suppose that an increase in the price of carrots from \$1.20 to \$1.40 per pound raises the amount of carrots that carrot farmers produce from 1.2 million pounds to 1.6 million pounds. Using the midpoint method, what would be the

3. ### MicroEcon

The market for apple pies in the city is competitive and has the following demand schedule: Price Quantity Demanded \$1 1,200 2 1,100 3 1,000 4 900 5 800 6 700 etc... 13 0 Each producer in the market has fixed costs of \$9 and the

4. ### economics

Suppose that people consume only three goods, as shown in this table: (5 Marks) Tennis Balls Tennis Racquets Gatorade 1998 price \$2 \$40 \$1 1998 quantity 100 10 200 1999 price \$2 \$60 \$2 1999 quantity 100 10 200 What is the