This topic contains a solution. Click here to go to the answer
« previous next »

Author Question: The nominal price of milk was 2.25 in 1998 while the CPI was 163.0 that year. Also, the CPI in 1970 ... (Read 9 times)

Chelseaamend

  • Hero Member
  • *****
  • Posts: 545
on: Jul 1, 2018
The nominal price of milk was 2.25 in 1998 while the CPI was 163.0 that year. Also, the CPI in 1970 was 38.8. What was the real value of 1998 milk in terms of 1970 dollars?
 
  What will be an ideal response?

Question 2

Carolyn knows average total cost and average variable cost for a given level of output. Which of the following costs can she not determine given this information?
 
  A) total cost
  B) average fixed cost
  C) fixed cost
  D) variable cost
  E) Carolyn can determine all of the above costs given the information provided.


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

frankwu0507

  • Sr. Member
  • ****
  • Posts: 322
Reply #1 on: Jul 1, 2018
Answer to Question 1

38.8(2.25)/163 = 0.54.

Answer to Question 2

E


Chelseaamend

  • Member
  • Posts: 545
Reply 2 on: Jul 1, 2018
Great answer, keep it coming :)

atrochim

  • Member
  • Posts: 331
Reply 3 on: Yesterday
Thanks for the timely response, appreciate it

« previous next »
 

Did you know?

Sildenafil (Viagra®) has two actions that may be of consequence in patients with heart disease. It can lower the blood pressure, and it can interact with nitrates. It should never be used in patients who are taking nitrates.

Did you know?

Vaccines cause herd immunity. If the majority of people in a community have been vaccinated against a disease, an unvaccinated person is less likely to get the disease since others are less likely to become sick from it and spread the disease.

Did you know?

In the ancient and medieval periods, dysentery killed about ? of all babies before they reach 12 months of age. The disease was transferred through contaminated drinking water, because there was no way to adequately dispose of sewage, which contaminated the water.

Did you know?

Barbituric acid, the base material of barbiturates, was first synthesized in 1863 by Adolph von Bayer. His company later went on to synthesize aspirin for the first time, and Bayer aspirin is still a popular brand today.

Did you know?

After a vasectomy, it takes about 12 ejaculations to clear out sperm that were already beyond the blocked area.

Changes in boreal forest composition along a chronosequence in Quebec. Dates refer to the year of th Changes in boreal forest composition along a chronosequence in Quebec. Dates refer to the year of th
(A) A 62-year-old patient with myxedema exhibiting marked edema of the face and a somnolent look. Th (A) A 62-year-old patient with myxedema exhibiting marked edema of the face and a somnolent look. Th
Why Different Constellations Are Visible at Different Times of the Year Why Different Constellations Are Visible at Different Times of the Year
U.S. Life Expectancy by Year of Birth U.S. Life Expectancy by Year of Birth
Use a graphical method to find the length of the loan to the nearest year Use a graphical method to find the length of the loan to the nearest year
The net price of an article is $79.84. What is the list price if a discount of 23% was allowed? The net price of an article is $79.84. What is the list price if a discount of 23% was allowed?
Video: Chemical Equilibrium between N2O4 (colorless gas) and NO2 (brown gas)

For a complete list of videos, visit our video library