1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
SOVA2 [1]
3 years ago
8

The residents of Vegopia spend all of their income on cauliflower, broccoli, and carrots. In 2016, they spend a total of $250 fo

r 100 heads of cauliflower, $100 for 50 bunches of broccoli, and $250 for 500 carrots. In 2017, they spend a total of $210 for 60 heads of cauliflower, $180 for 90 bunches of broccoli, and $270 for 450 carrots.Year Cauliflower Broccoli Carrots
2016 2.1 1.4 0.1
2017 2.5 1.4 0.3 Using 2016 as the base year, the CPI for 2016 is______, and the CPI for 2017 is______. The inflation rate in 2017 is_____using the CPI.
Business
1 answer:
Reil [10]3 years ago
6 0

Answer:

CPI for 2016 = 100

CPI for 2017 = 110

Inflation rate in 2017 = 10%

Explanation:

Before finding Consumer Price Index (CPI), we have to calculate the market basket cost price for each year

2016 market basket cost price =

Cauliflower = $250

Broccoli      = $100

<u>Carrots       = $250</u>

Total cost = $600

2017 market basket cost price =

Cauliflower = $210

Broccoli      = $180

<u>Carrots       = $270</u>

Total cost = $660

We know, CPI = (Cost of market basket in a given year ÷ Cost of market basket in a base year) × 100

As 2016 is the base year, CPI for 2016 = ($600 ÷ $600) × 100 = 100

CPI for 2017 = ($660 ÷ $600) × 100 = 100 = 110

Again, we know, Inflation rate using the CPI = [(CPI for current year - CPI for previous year) ÷ CPI for previous year] × 100

Therefore, Inflation rate using the CPI = [(110 - 100) ÷ 100] × 100 = 10%.

You might be interested in
Suppose a price-taking firm produces 400 units at its optimal output level. At that output rate, marginal cost is $200, average
Maslowich

Answer:

C) the market price falls below $170 per unit.

Explanation:

If this firm is a price taker, it means that it is operating in a perfect competition market. In such markets, since the entry and exit barriers are very low or nonexistent, if the equilibrium price falls below the variable cost, the firms should halt production in the short run until the equilibrium price rises again. The firm should resume production only after the equilibrium price exceeds the variable costs.

This situation is only applicable on the short run. On the long run the firm should only produce if the equilibrium price is greater or equal to its marginal cost.

7 0
3 years ago
For Wilton Company, the predetermined overhead rate is 70% of direct labor cost. During the month, $360,000 of factory labor cos
bezimeni [28]

Answer:

The amount of overhead debited to Work in Process Inventory should be: a. $182,00

Explanation:

The Overheads are Applied in the Manufacturing Costs as:

Budgeted Rate × Actual Activity for the Month

At the End of the Period we would need to determined whether this amount of overhead is Over or Under Applied by comparing it to the actual overheads incurred of $180,000 (given)

In our Case,  the predetermined overhead rate is 70% of direct labor cost

<em>Thus we need to find the Direct Labor Cost first</em>:

Total Labor Costs               $360,000

<em>Less </em>Indirect Labor Costs<em>  </em>$100,000

Direct Labor Cost              $260,000

<em>Therefore Overheads applied would be determined as:</em>

= $260,000 × 70%

= $182,000

6 0
3 years ago
Read 2 more answers
What does it mean if your net assets increase
Bad White [126]
When a company earns income, it becomes larger because net assets have increased. Even if a portion of the profits is later distributed to shareholders as a dividend, the company has grown in size as a result of its own operations.
5 0
3 years ago
Read 2 more answers
Deadweight losses occur when the quantity of an output produced is:
PilotLPTM [1.2K]
Deadweight losses occur when the quantity of an output produced is: ... Less than or greater than the competitive equilibrium quantity. Such that the marginal benefit of the output is just equal to the marginal cost.
3 0
2 years ago
Noelle, assistant manager at Green Gardens Restaurant, is preparing a questionnaire to help her evaluate customer satisfaction.
wariber [46]

Hi there, i cannot find the complete question so that i can pick an option from so im going to do my best to answer your question.

Explanation:

Noelle can use the question: on a scale of 1 to 4, rate your level of satisfaction of the meal at Green Gardens Restaurant. 1 to 4 can be represented as shown below.

1- very bad

2- bad

3- good

4- very good

With this sort of question to customers, Noelle would be able to get an understanding of how bad or well the restaurant is doing in terms of customer satisfaction.

Cheers.  

7 0
3 years ago
Other questions:
  • The company pays cash for a piece of equipment. the list price was $9,100, but after negotiation, the final purchase price was $
    13·1 answer
  • On July 1, 2021, Ayayai Inc. entered into a contract to deliver one of its specialty machines to Kickapoo Landscaping Co. The co
    7·1 answer
  • Lonergan Company occasionally uses its accounts receivable to obtain immediate cash. At the end of June 2021, the company had ac
    7·1 answer
  • A research company has conducted an evaluation of European online retailers by asking consumers how well the websites helped the
    14·1 answer
  • Suppose the most you would be willing to pay to have a freshly washed car before going out on a date is $4.00. The smallest amou
    14·2 answers
  • While visiting a coffee shop, you see a poster advertising a concert for a music group you'd love to see. You notice there's an
    12·1 answer
  • Suppose you were hired as a consultant for a company that wants to penetrate the Comp-XM market. This company wants to pursue a
    9·1 answer
  • Clothing retailer Lululemon often has displays in their front window that try to raise awareness on specific issues such as the
    14·1 answer
  • Reconciliation of pretax accounting income and taxable income: Pretax accounting income $ 179,000 Permanent differences (16,100
    13·1 answer
  • Do you think workers of a company need to join in a trade union? Justify your answer
    10·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!