The country of Caspir produces only cereal and milk. Quantities and prices of these goods for the last several years are shown below. The base year is 2015. Prices and Quantities Quantity of Quantity of Year Price of Cereal Price of Milk Cereal Milk 2015 $4.00 100 S1.50 180 2016 $4.00 120 $2.00 200 2017 $5.00 150 $2.50 200

The country of Caspir produces only cereal and milk. Quantities and prices of these goods for the last several years are shown below. The base year is 2015. Prices and Quantities Quantity of Quantity of Year Price of Cereal Price of Milk Cereal Milk 2015 $4.00 100 S1.50 180 2016 $4.00 120 $2.00 200 2017 $5.00 150 $2.50 200

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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