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postnew [5]
3 years ago
14

From 1980 to 1990, the consumer price index (CPI) increased from 74.4 to 128.7. If a gallon of apple juice cost $0.78 in 1980 an

d the price of apple juice increased at the same rate as the CPI from 1980 to 1990, approximately how much did a gallon of apple juice cost in 1990?
A.$1.35
B.$1.55
C.$1.77
D.$1.49
Business
2 answers:
ad-work [718]3 years ago
8 0
(0.78*128.7)/74.4 =1.35
................
Shalnov [3]3 years ago
3 0

Answer:

A.$1.35

Explanation:

First, let's calculate the variation of the consumer price index (CPI) from 1980 to 1990:

(128.7-74.4)/74.4= 0,73

The increase of the consumer price index from 1980 to 11990 was 73%.

As the price of apple juice increased at the same rate as the CPI from 1980 to 1990, to find the cost of the gallon of apple juice in 1990, we have to calculate the 73% increase from the 1980 price:

$0.78*(1,73)= $1.35

The gallon of apple juice cost in 1990 $1.35.

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3 years ago
Illinois Company is attempting to develop the cost function for repair costs. The following past data are available: Machine Hou
Harlamova29_29 [7]

Answer:

$480

Explanation:

Data provided in the question:

Machine              Hours Repair Costs

2,400                       $6,385

1,200                        $3,480

2,000                       $5,285

3,400                       $8,980

Now,

                       Machine              Hours Repair Costs

Highest             3,400                       $8,980

Lowest              1,200                        $3,480

Difference        2,200                       $5,500

Unit variable cost =  $5,500 ÷ 2,200

= $2.5

Total cost at high level = $8,980

Machine hours highest level = 3,400

Also,

Total cost at high level = Fixed cost + Variable cost at highest level

or

$8,980 = Fixed cost + [ $2.5 × 3,400 ]

or

Fixed cost = $8,980 -  [ $2.5 × 3,400 ]

= $8,980 - $8,500

= $480

7 0
2 years ago
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