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
Arisa [49]
3 years ago
6

Assume the market basket contains 20X, 30Y, and 50Z. The current-year prices for goods X, Y, and Z are $2, $6, and $10, respecti

vely. The base-year prices are $1, $3, and $5, respectively. What is the CPI in the current year?
Business
1 answer:
Aneli [31]3 years ago
8 0

Answer:

CPI for the current year  = 200

Explanation:

Given;

Contents in market basket

20X, 30Y, and 50Z

The current-year prices for goods

X = $2

Y = $6

Z = $10

The base-year prices are

X = $1

Y = $3

Z = $5

Now,

Total cost of market basket in the current year

= ∑ (Quantity × Price)

= 20 × $2 + 30 × $6 + 50 × $10

= $40 + $180 + $500

= $720

Total cost of market basket in the base year

= ∑ (Quantity × Price)

= 20 × $1 + 30 × $3 + 50 × $5

= $20 + $90 + $250

= $360

also,

CPI for the current year = \frac{\textup{Cost of market basket at current year prices}}{\textup{Cost of market basket at base year prices}}\times100

or

CPI for the current year = \frac{\$720}{\$360}\times100

or

CPI for the current year = 200

You might be interested in
ason owns a small landscaping business called GreenScapes. When buying a new pickup truck for his landscaping business, Jason ne
Tomtit [17]

Answer: reciprocity

                       

Explanation: In simple words, reciprocity refers to the agreement in which two parties exchange goods or services in such a way that both of them will gain benefit from such agreement.

In business it can achieved in many ways, for example by combining the efforts and resources or by providing each other some service in exchange for service from the other side.

In the given case, Jason made a deal with dodge to provide service to him in exchange for service by him. Hence we can conclude that the given case depicts reciprocity.

4 0
3 years ago
Exercise 4-11 Computing net sales for multiple-step income statement LO P4 A company reports the following sales-related informa
dezoksy [38]

Answer:

Net sales revenue= 220,100

Explanation:

Giving the following information:

Sales, gross $ 245,000

Sales returns and allowances $ 20,000

Sales discounts 4,900

Sales salaries expense 10,900

<u>Sales salaries expense is not a part of the net sales in a multiple-step income statement. The net sales are as follow:</u>

Sales= 245,000

Sales returns and allowances=  (20,000)

Sales discounts= (4,900)

Net sales revenue= 220,100

4 0
3 years ago
The curve that shows the relationship between the sales price and quantity sold is called the:__________
Vinvika [58]

The curve that shows the relationship between the sales price and quantity sold is called the: demand curve.

The call for a  demand curve is a graphical representation of the relationship between the price of an excellent or carrier and the quantity demanded for a given time frame. In a standard representation, the rate will seem on the left vertical axis, the amount demanded on the horizontal axis.

A demand curve is a graph that shows the amount demanded at every rate. every now and then the demand curve is likewise referred to as a demanding agenda because it is a graphical illustration of the call for schedules.

The demand curve can be a critical device to apply while corporations make pricing decisions. this is because the call for a curve can show the price point where the purchaser responsiveness drops, as well as the fee point that elicits the very best demand.

Learn more about the demand curve here:

brainly.com/question/16790743

#SPJ4

5 0
11 months ago
When tailoring a résumé, what is the first step that should take place? a. Arrange your résumé with the most relevant informatio
Sphinxa [80]

Answer: d. Make sure to change the position and company name in the objective.

Setting the job objective is the first step of any resume.

The manner in which the objective of a resume is framed conveys a lot of information to the prospective employer.  

A well defined objective must use industry vocabulary, demonstrate research into the job or position that is being applied for and reflect the incumbent's abilities and interests.  

Hence it is imperative to change the position and company name in the resume's objective while tailoring a resume.

6 0
3 years ago
Read 2 more answers
Haskins Products sells 2,000 kayaks per year at a sales price of $470 per unit. Haskins sells in a highly competitive market and
AysviL [449]

Answer:

target fixed​ costs is $ 420000

Explanation:

Given data

sells 2,000

sales price of $470 per unit.

product cost at $720,000

variable costs are $300,000

to find out

target fixed​ costs

solution

we know here product cost and variable cost

so target fixed​ costs is product cost - variable costs

so we put all these value to find out target fixed cost

target fixed​ costs = product cost - variable costs

target fixed​ costs = 720000 - 300000

target fixed​ costs is $ 420000

4 0
2 years ago
Other questions:
  • Prepare the following journal entries in proper journal entry form. 1. Billed a customer for a $2,400 job. 2. Received $4,800 to
    9·1 answer
  • What's the main advantage of establishing per-item prices on an order and pricing form?
    13·2 answers
  • What are the three aspects of corporate organization according to the economics of organizational architecture article?
    13·1 answer
  • On May 1 Ralph offers to cure and smoke Sam’s pork, and promises to keep the offer open until June 1. On May 3 Ralph mails Sam a
    12·1 answer
  • Leisure Industries manufactures​ custom-designed playground equipment for schools and city parks. Leisure expected to incur $ 62
    6·1 answer
  • Your firm currently has $ 100 million in debt outstanding with a 10 % interest rate. The terms of the loan require the firm to r
    9·1 answer
  • Rodney was employed by Deluxe Discount Store. Rodney's manager directed him to check the prices of dog food at Huge Savings Stor
    15·1 answer
  • Energy Drink, Inc. has decided to launch a new energy drink that will have the fewest calories among its competitors. To underst
    8·1 answer
  • What do you do if your lender rejects your loan application
    8·1 answer
  • How do you pay taxes and is it hard ( just curious)
    13·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!