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Likurg_2 [28]
3 years ago
15

Assume that you live in a simple economy in which only three goods are produced and traded: Cashews, pecans and almonds. Suppose

that on January 1st 2105, cashews sold for $12.50 per pound, pecans were $4.00 per pound, and almonds were $5.50 per pound. At the end of the year you discover that the cashew crop was lower than expected and that cashew prices had increased to $17.00 per pound, but pecan prices stayed at $4.00 and almond prices has actually fallen to $3.00. Can you say what happened to the overall "price level"? How might you construct a measure of the "change in price level"? What additional information might you need to construct your measure?
Mathematics
1 answer:
oee [108]3 years ago
7 0

Answer:

Step-by-step explanation:

The information given in the question can be represent in a table format for better understanding with the additional columns as follows:

Items          Weights Q₀         Prices P₀      Prices P₁        P₀Q₀        P₁Q₀

Cashew        1                        $12.50           $17.00        $12.50      $17.00

Pecans         1                         $4.00            $4.00         $4.00        $4.00

Almonds       1                         $5.50           $3.00          $5.50        $3.00

Total                                                                                 $22           $24

Can you say what happened to the overall "price level"?

The changes in overall price level can be a result of a condition termed as inflation rate

How might you construct a measure of the "change in price level"?

To construct a measure of the change in price level; we need to determine the consumer price index (CPI).

The consumer price index can be determined by using the relation:

=\mathbf{\dfrac{Sum \ of \ P_1Q_0}{Sum \ of  \ P_oQ_o}*100    }

= \mathbf{\dfrac{24}{22}*100    }

= 109.0%

consumer price index (CPI) is 109.0% ; This implies that there is a 9.9% inflation in the economy.

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Find the slope, if it exists, of the line containing the points (3,-1) and (3, -6).
evablogger [386]

Answer:

Doesn't exist

Step-by-step explanation:

slope \: m =  \frac{ - 6 - ( - 1)}{3 - 3}  =  \frac{ - 5}{0}  =  \infty \\

Hence, the slope of line doesn't exist.

4 0
3 years ago
The difference of two numbers is 8. If the sum of the smaller number and the square of the larger number is 148, what is the lar
natita [175]
Small number is 4 and the large number is 12.

12 - 4 = 8

12^2 + 4 = 144 + 4 = 148

Have a nice day sie
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What is the scientific notation for 10.6x10^-11?
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3 years ago
The line x = k intersects the graph of the parabola x = -2y^2 - 3y + 5 at exactly one point. What is k? Thank you! :)
bearhunter [10]

Answer:

49/8 is the value of k

Step-by-step explanation:

We have the system

x = -2y^2 - 3y + 5

x=k

We want to find k such that the system intersects once.

If we substitute the second into the first giving us k=-2y^2-3y+5 we should see we have a quadratic equation in terms of variable y.

This equation has one solution when it's discriminant is 0.

Let's first rewrite the equation in standard form.

Subtracting k on both sides gives

0=-2y^2-3y+5-k

The discriminant can be found by evaluating

b^2-4ac.

Upon comparing 0=-2y^2-3y+5-k to 0=ax^2+bx+c, we see that

a=-2, b=-3, and c=5-k.

So we want to solve the following equation for k:

(-3)^2-4(-2)(5-k)=0

9+8(5-k)=0

Distribute:

9+40-8k=0

49-8k=0

Add 8k on both sides:

49=8k

Divide both sides by 8"

49/8=k

6 0
3 years ago
The amount of money you earn varies directly to the number of pizzas you sell. If you earn $44 for selling 8 pizzas, How many pi
Anna [14]

Answer:

You would need to sell 24 pizzas

Step-by-step explanation

132/44= 3

Take the 3 and times it by 8

3 x 8 = 24

You would need to make 24 pizzas

Each pizza is 5.50$

So an equation for this could be

5.50x P = C

P = Pizza

and C is the cash you earned

I hope this helps

5 0
3 years ago
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