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nalin [4]
3 years ago
15

Year P (bikinis) Q (bikinis) P (Speedos) Q (Speedos)

Business
1 answer:
mojhsa [17]3 years ago
4 0

Answer:

$2,950

Explanation:

assuming that year 2000 is the base year:

real GDP for 2003 = (bikini price 2000 x bikini quantity 2003) + (speedos price 2000 x speedos quantity 2003) = ($75 x 30) + ($50 x 14) = $2,950

base year's prices become the real prices of the economy, and any change in real GDP is given by changes in output

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