1) Average prices received and corresponding total production for the five leadıng grain crops in Kansas are given here for 2004 and 2005. Сrор Price per bushel ($) 2004 Production (mil bushels) 2004 2005 2005 Corn 2.76 2.99 1355 1325 Soybeans 5.88 6.95 435 464 Wheat 2.65 3.44 1289 1370 Oats 1.29 2.01 18 16 Calculate and interpret a Fisher Ideal Quantity Index for 2005.||

1) Average prices received and corresponding total production for the five leadıng grain crops in Kansas are given here for 2004 and 2005. Сrор Price per bushel ($) 2004 Production (mil bushels) 2004 2005 2005 Corn 2.76 2.99 1355 1325 Soybeans 5.88 6.95 435 464 Wheat 2.65 3.44 1289 1370 Oats 1.29 2.01 18 16 Calculate and interpret a Fisher Ideal Quantity Index for 2005.||

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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