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krek1111 [17]
3 years ago
15

The consumer price index for Planet Econ consists of only two items: books andhamburgers. In 2010, the base year, the typical co

nsumer purchased 10 books for$25 each and 25 hamburgers for $2 each. In 2015, the typical consumer purchased15 books for $30 each and 30 hamburgers for $3 each. The consumer price indexfor 2015 on Planet Econ equals:
Business
1 answer:
Stels [109]3 years ago
4 0

Answer:

The consumer price index for 2015 on Planet Econ is 1.25

Explanation:

The formula for computing the consumer price index is given below:

= (Total cost in the current year) ÷ (total cost in the base year)

where,

Total cost in the current year equals to

= (Base year book quantity × current year book price) + (base year hamburgers quantity × current year hamburgers price)

= 10 books × $30 + 25 hamburgers × $3

= $300 + $75

= $375

we use the base year quantity for computing the total cost for the current year.

And, the Total cost in the base year equals to

= (Base year book quantity × base year book price) + (base year hamburgers quantity × base year hamburgers price)

= 10 books × $25 + 25 hamburgers × $2

= $250 + $50

= $300

Now put these values to the above formula

So, the answer would be

= $375 ÷ $300

= 1.25

Hence, The consumer price index for 2015 on Planet Econ is 1.25

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Answer:

d. All people respond better to visual information than text.

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  • Visualization refers to an image of an object, situation or event, or any chart in the human mind. Visualization is the creation of a mental image of an object, image or situation in one's mind.
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3 years ago
Homestead Crafts, a distributor of handmade gifts, operates out of owner Emma Finn’s house. At the end of the current period, Em
atroni [7]

Answer: 871 units

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.

The number of units in ending inventory can be calculated using following formula :-

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Ending inventory = 700 + 100 + 100 - 29

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3 0
3 years ago
If the U.S. capital markets are not informationally efficient, ______.A. the markets cannot be allocationally efficientB. system
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Answer:

A. the markets cannot be allocationally efficient

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5 0
3 years ago
g Oriole Company had actual sales of $1100000 when break-even sales were $660000. What is the margin of safety ratio? 67% 40% 33
Sonbull [250]

Answer:

40%

Explanation:

Oriole company has an actual sales of $1,100,000

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= $1,100,000-$660,000/$1,100,000

= $440,000/$1,100,000

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Hence the margin of safety is 40%

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Q 9.37: when should the gross profit method of inventory valuation not be used because it is invalid?
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5 0
3 years ago
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