QUESTION 4 10 points Saved oorsider an ecory 1hat procucea and consumes only thr

Question

QUESTION 4 10 points Saved oorsider an ecory 1hat procucea and consumes only three types of frut: apples, oranges and bananas. In 2009 and 2010, the production/consumption and price data were as folows: 2009 Fruit Quantity Price Applas 3000 S2 per unit Bananae 6000 S3 per urit Orenges BOND $4 par unit 201 Fruit Quentity Price Apples 4000 S3 per urit Bananes 14000 2 per unit Orangee 80C0 S5 per unit Ueing 200e as the reference base year and 2010 as the expenditure base year, the CPl equals 1 in 2009 and 1.089 in 2010 1.069 in 2008 and 1 in 2010 0.976 in 2009 and 1 in 2010 1 n 2009 and 0.978 in 2010

Explanation / Answer

cost of basket in 2009=3000*2+6000*3+8000*4=56000

cost of basket in 2010=3000*3+6000*2+8000*5=61000

CPI in 2009=cost of basket in 2009/cost of basket in base year=56000/56000=1

CPI in 2010=cost of basket in 2010/cost of basket in base year=61000/56000=1.089

answer: 1 in 2009 and 1.089 in 2010

the above is answer..

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