Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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Transcribed Image Text:Use the information below and the data in the table to answer questions 6
through 10.
Beginning in 2004, people in Vidinstan began producing a third good, borjin, in
addition to sladke and gamza. Borjin is sold in individual units. The table
below shows the number of tons of sladke, liters of gamza, and units of borjin
sold each year from 2004 to 2007. In 2004, sladke cost $10 per ton, gamza
cost $2 per liter, and borjin cost $0.50 per unit.
Year Sladke (in tons) Gamza (in liters) Borjin (in units)
2004 95
600
4,000
2005 100
620
4,500
2006 97
600
4,300
2007 102
650
5,000
How much did RGDP increase from 2006 to 2007, using 2004 as the base-
price year?
Answer here
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