In year 1 the price is $20 while output id 500. In year 2 the price is $21 while the production is still 500. What is the price index (PI) for year 2 assuming year 1 is the base year? a. 105 Ob. 100 OC. $10,000 O d. $10,500

In year 1 the price is $20 while output id 500. In year 2 the price is $21 while the production is still 500. What is the price index (PI) for year 2 assuming year 1 is the base year? a. 105 Ob. 100 OC. $10,000 O d. $10,500

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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