Answer:
It will be £2520
Step-by-step explanation:
- 3.2=


- 320


Answer:
The cost in 2015 will be $283.45.
What is the reference point (t=0)?
d. The year 2005.
Step-by-step explanation:
The exponential growth model for the cost is the following:

In which C(t) is the cost after t years,
is the initial cost and r is the decimal inflation rate
In this problem, we have that:

What will it cost in 2015 assuming the rate of inflation remains constant?
2015 is 10 years after 2005, so this is C(10).


The cost in 2015 will be $283.45.
The reference point is the year in which t = 0, so the year 2005.
One can Identify the differences between the rise in prices due to inflation and the rise in prices in microeconomic markets by?
- Observing the trends in prices.
- Observing Demand and supply curve.
<h3>Contrast the differences between the rise in prices due to inflation and the rise in prices in microeconomic markets.</h3>
The difference that exist between a rise in price due to the inflation and a rise in price due to microeconomic markets is based on the price changes that has occurred in terms of demand and supply model.
Note that this is said to be the price in a given market but the price rise as a result of to inflation tells that the price rise is one that reaches a lot of markets and not only just one market.
Hence, One can Identify the differences between the rise in prices due to inflation and the rise in prices in microeconomic markets by?
- Observing the trends in prices.
- Observing Demand and supply curve.
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