Solution Found!
The residents of Vegopia spend all of their income on cauliflower, broccoli, and
Chapter 24, Problem Problems and Applications 23.2(choose chapter or problem)
The residents of Vegopia spend all of their income on cauliflower, broccoli, and carrots. In 2010, they buy 100 heads of cauliflower for $200, 50 bunches of broccoli for $75, and 500 carrots for $50. In 2011, they buy 75 heads of cauliflower for $225,80 bunches of broccoli for $120, and 500 carrotsfor $100.a. Calculate the price of each vegetable in eachyear.b. Using 2010 as the base year, calculate the CPIfor each year.c. What is the inflation rate in 2011?
Questions & Answers
QUESTION:
The residents of Vegopia spend all of their income on cauliflower, broccoli, and carrots. In 2010, they buy 100 heads of cauliflower for $200, 50 bunches of broccoli for $75, and 500 carrots for $50. In 2011, they buy 75 heads of cauliflower for $225,80 bunches of broccoli for $120, and 500 carrotsfor $100.a. Calculate the price of each vegetable in eachyear.b. Using 2010 as the base year, calculate the CPIfor each year.c. What is the inflation rate in 2011?
ANSWER:Step 1 of 3
Considering the year 2010, the prices of each head of cauliflower, each bunch of broccoli, and each carrot are calculated below:
Considering the year 2011, the prices of a head of cauliflower, a bunch of broccoli, and a carrot are calculated below:
