You will want to copy the table below into Excel (or enter by hand). Then in Excel compute the 3 production indexes for aluminum, fertilizer, and lumber with time period 1 as the base period. You will use these index values to answer the questions in this homework set. Quantity Quantity Quantity Time Period Aluminum Fertilizer Lumber 1 2 3 4 51 525 575 500 625 600 57 10,000 62 9,500 68 11,000 74 10,000 81 12,000 Setting time period 1 as the base period, aluminum production index has value of in time period 3. (Your answer may differ slightly from provided answers due
You will want to copy the table below into Excel (or enter by hand). Then in Excel compute the 3 production indexes for aluminum, fertilizer, and lumber with time period 1 as the base period. You will use these index values to answer the questions in this homework set. Quantity Quantity Quantity Time Period Aluminum Fertilizer Lumber 1 2 3 4 51 525 575 500 625 600 57 10,000 62 9,500 68 11,000 74 10,000 81 12,000 Setting time period 1 as the base period, aluminum production index has value of in time period 3. (Your answer may differ slightly from provided answers due
Economics (MindTap Course List)
13th Edition
ISBN:9781337617383
Author:Roger A. Arnold
Publisher:Roger A. Arnold
Chapter21: Production And Costs
Section21.5: Production And Costs In The Long Run
Problem 1ST
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Question
![You will want to copy the table below into Excel (or enter by hand). Then in Excel
compute the 3 production indexes for aluminum, fertilizer, and lumber with time
period 1 as the base period. You will use these index values to answer the questions
in this homework set.
Quantity Quantity Quantity
Time Period Aluminum Fertilizer Lumber
2
3
4
525
575
500
625
600
1033
57 10,000
62
9,500
68 11,000
74 10,000
81
12,000
Setting time period 1 as the base period, aluminum production index has value of
in time period 3. (Your answer may differ slightly from provided answers due
to rounding, but one answer will be much closer.)](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fa227ebbe-ff5e-4b9a-adce-2841f9121466%2F3780f30d-a2a1-4ea5-9de5-730d948b7eee%2Ftfjhyi_processed.jpeg&w=3840&q=75)
Transcribed Image Text:You will want to copy the table below into Excel (or enter by hand). Then in Excel
compute the 3 production indexes for aluminum, fertilizer, and lumber with time
period 1 as the base period. You will use these index values to answer the questions
in this homework set.
Quantity Quantity Quantity
Time Period Aluminum Fertilizer Lumber
2
3
4
525
575
500
625
600
1033
57 10,000
62
9,500
68 11,000
74 10,000
81
12,000
Setting time period 1 as the base period, aluminum production index has value of
in time period 3. (Your answer may differ slightly from provided answers due
to rounding, but one answer will be much closer.)
![21
31
4
5
575
500
625
600
103.2
98.7
95.2
116.7
621 9,500
68 11,000
74
10,000
81 12,000
Setting time period 1 as the base period, aluminum production index has value of
in time period 3. (Your answer may differ slightly from provided answers due
to rounding, but one answer will be much closer.)](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fa227ebbe-ff5e-4b9a-adce-2841f9121466%2F3780f30d-a2a1-4ea5-9de5-730d948b7eee%2Fiht8f8e_processed.jpeg&w=3840&q=75)
Transcribed Image Text:21
31
4
5
575
500
625
600
103.2
98.7
95.2
116.7
621 9,500
68 11,000
74
10,000
81 12,000
Setting time period 1 as the base period, aluminum production index has value of
in time period 3. (Your answer may differ slightly from provided answers due
to rounding, but one answer will be much closer.)
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