The table shows the quantities produced and prices in 2015 and 2016 for an island economy which produces only mangoes and pineapples The base year is 2015. Calculate the value of 2015 production in 2016 prices and the percentage increase in production when valued at 2016 prices
The table shows the quantities produced and prices in 2015 and 2016 for an island economy which produces only mangoes and pineapples The base year is 2015. Calculate the value of 2015 production in 2016 prices and the percentage increase in production when valued at 2016 prices
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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Iam posting this 3rd time there are 2 questions please give me correct answers and be careful thanks
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
Transcribed Image Text:In 2015
Item
Mangoes
Pineapples
In 2016
Item
Mangoes
Pineapples
Quantity
91 boxes
54 boxes
Quantity
114 boxes
66 boxes
Price
$10 a box
$12 a box
Price
$14 a box
$9 a box

Transcribed Image Text:The table shows the quantities produced and prices in 2015 and 2016 for an island economy which produces only mangoes and
pineapples
The base year is 2015.
Calculate the value of 2015 production in 2016 prices and the percentage increase in production when valued at 2016 prices
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