I don’t understand this! I just need an answer and how to solve it!
1 answer:
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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:
= 109.0%
consumer price index (CPI) is 109.0% ; This implies that there is a 9.9% inflation in the economy.
Answer:
As you can see, the difference between the reciprocal of and the inverse of
is that
and
.
Step-by-step explanation:
First lets find both the reciprocal of and the inverse of
Recall that the reciprocal of a value is where you take a fraction and swap the places of the terms. In the case of , 1 is the denominator, so
To find the inverse of a function, you first need swap the locations of x and y in the equation
Now, you need to solve for y
Now, lets rewrite each of these to better compare them
As you can see, the difference between the reciprocal of and the inverse of